Best Posts in Thread: Another Scam Warning (BULLION BUYER LTD.)

I have had several (Filipinos) pushing me via PM in Facebook to join "Money Making Clubs" lately, the latest is AirBit Club, apparently another you beaut great money making scheme (SCAM) to add to Bullion Buyer (already covered here) and Pluggle which was all the rage before Christmas... ( SEC warns public against investing in Pluggle )

One of the Ladies is trying her best to convince me that in just a few days she has accumulated more than 52,000 pesos and is sending me screenshots of people who have just bought New Cars with their newfound windfalls... IF your Asawa comes home with this latest nonsense eager to make pesos magically fall from the sky, show her the link below and explain to her how these scams work...

AirBit Club (BitBackOffice) Review
AirBit Club (BitBackOffice) Review

 

Today has been Argghhh!

Several of the Relatives have heard of the Families reluctance to submit their forms so came to investigate, showing them the online links I posted earlier, including some Videos on Youtube in Filipino discussing this SCAM (which of course there are further Fees to release said funds once your application is accepted) they shook their heads in disbelief, it cannot be true, their paperwork (Oh yeah that cost an additional 200 php so each person got stung 350 php in total so far) has already been sent to Manila and they live in hope for their 10,000 php a month windfall to come to fruition...

Hold your breath for the outcome folks!

 

Actually it has nothing to do with Gold Bullion investments as such, the Company is called Gold Bullion LTD. It is a scam using the name of ex-Pres. Ferdinand Emmanuel E. Marcos.

What they are doing is (NOW) playing on the back of the latest News that the Marcos Family are offering to return Billions in Stolen Gold Bullion to the Philippines Government, people here know that News.

At the "Conference" they are telling people, that those who lived during the Marcos era are entitled to make a claim (like compensation) and be paid a sum of 10,000 pesos per month and share in the wealth of the Marcos Family who want to give back to the people of the Philippines and help the Filipino people using the returned Gold Bullion to the Filipino people.

It cost 150 pesos per head to listen to the conference where you are given some pamphlets and organizers explain how they (the listeners) would share in the wealth, this is the following MO:
Those recruited are asked to pay thirty pesos (php30.00) in exchange for receiving TEN THOUSAND PESOS (php10,000.00) per month through their Landbank ATM accounts for four (4) years and eleven (11) months starting February 2017. This also entitles them to a grant of FIVE HUNDRED THOUSAND PESOS (php500,000.00) for livelihood programs.

So; (in this case they paid 150php per head) those recruited believed they would receive 10,000 pesos a month for 4 years and 11 months after their applications were approved, as well be entitled to a grant of 500,000 pesos if they funded Livelihood Programs helping other Filipinos.

The Family here were busy providing very personal details which I believe would have been on-sold to Scammers who then would have had very personal information which could be directed to scams such as credit fraud etc... They had attached their ID Photos, filled in Bank Details etc ALL which threw up Red Flags for me!

Many are slowly waking up to it (MANY ARE NOT) but it is a long time scam going back years as per Facebook Pages such as this amongst others such as the other link I posted above as well as others online;
Pres. Ferdinand Emmanuel E. Marcos

But the most damning evidence is the actual Securities and Exchange Commission of the Philippines posting a Warning on their site here; (See Warning copy & pasted below) which also warns anyone who invite or recruit or convince people to join or invest in the venture or offer investment contracts or securities to the public may be charged and held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].

Bullion Buyer Ltd.

ENFORCEMENT AND INVESTOR PROTECTION DEPARTMENT

SEC ADVISORY

March 8, 2017

The Commission has received information that an entity by the name of BULLION BUYER LTD. is operating in Baguio City organizing groups of people and inviting each coordinator to recruit other beneficiaries. Those recruited are asked to pay thirty pesos (php30.00) in exchange for receiving TEN THOUSAND PESOS (php10,000.00) per month through their Landbank ATM accounts for four (4) years and eleven (11) months starting February 2017. This also entitles them to a grant of FIVE HUNDRED THOUSAND PESOS (php500,000.00) for livelihood programs.

The public is hereby informed that BULLION BUYER LTD. is not registered with the Commission as a corporation or partnership. There being no primary license, it is not authorized to solicit investments which require a secondary license as provided under Sec. 8.1 of the Securities Regulation Code.

The law likewise prohibits any person from engaging in the buying or selling of securities in the Philippines as a broker or dealer or as a salesman or associated person of any broker or dealer unless registered as such with the Commission (Sec. 28, SRC).

Accordingly, those who invite or recruit or convince people to join or invest in the venture or offer investment contracts or securities to the public may be charged and held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].

In view thereof, the public is advised to STOP INVESTING in this kind of investment activity which may turn out to be a fraudulent investment scheme and to take the necessary precautions in dealing with the above-named entity and/or its representatives.

If you have invested money or were invited to invest in BULLION BUYER LTD., you may seek the assistance of the SEC – Extension Offices and/or Enforcement and Investor Protection Department (EIPD) of the Securities and Exchange Commission with office address at the North Wing Hall, Ground Floor, Secretariat Building, PICC Complex, Pasay City or you may call at telephone number 818-5476.

8 March 2017

 

Another Scam (BULLION BUYER LTD.) has raised it's ugly head once again, they are trying to recruit people around the Zamboanguita area and are charging people 150 pesos each to go and listen to the blurb and sign up, must be inflation as it was only 30 pesos before...

Another one doing the rounds especially on Social Media is called "PUGGLE".
Some insight if you think it sounds like a great opportunity;
Pluggle.com.ph Scam or Paying — Steemit

I woke up this morning to a VERY EXCITED Family, ALL busy filling in their Forms with all of their Personal Information... I just did a Google search and burst their bubbles... Time to start warning your Filipino Families if something sounds to good to be true then...

*Quote regards how the Bullion Buyer LTD scam works:
Those recruited are asked to pay thirty pesos (php30.00) in exchange for receiving TEN THOUSAND PESOS (php10,000.00) per month through their Landbank ATM accounts for four (4) years and eleven (11) months starting February 2017. This also entitles them to a grant of FIVE HUNDRED THOUSAND PESOS (php500,000.00) for livelihood programs.

*Quote from the SEC regards Bullion Buyer LTD:
Accordingly, those who invite or recruit or convince people to join or invest in the venture or offer investment contracts or securities to the public may be charged and held criminally liable or accordingly sanctioned or penalized in accordance with the Supreme Court decision in the case of SEC vs. Oudine Santos [G.R. No. 195542, March 19, 2014].

Bullion Buyer Ltd.

2 'Marcos wealth' scammers nabbed in Pangasinan

The Truth About Bullion Buyer LTD.: MORE ON BULLION BUYER LTD.