Another Scam Warning (BULLION BUYER LTD.)

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.

 

There used to be, for sure. They were called United States Notes or sometimes just "dollars"

 

I have this issue about cryptocurrency. It seems if I bought a few dollars' worth of Bitcoins about 10 years ago, I would now be a billionaire. I am informed it is because a limited amount of Bitcoin is 'mined'. But I am aware that there are now hundreds of cryptocurrencies being 'mined' so it begs the question why crptocurrencies are going up in value so astronomically if new ones can be created 'out of thin air'? In the case of gold, there are also alternatives such as silver, platinum, precious jewels, even rare wines and whiskies! Thinking about 'Tulipomania', it really was only a 'belief system' and stopped when someone one day thought "Why am I paying so much for a tulip bulb" (the light went on!). So I see no sense in any system of payments or holdings of alternatives to cash, other than the belief that there is tradeable value and possible investment value. I am amused by the thought that in the past someone traded something for a big stone with a hole in the middle (an early currency) and then carted it around to find someone else willing to accept it in an exchange for goods. So PLEASE keep believing in those things I hold as currencies and alternatives to currencies or else I will be left holding something as worthless as a pile of sh*t (now THAT IS AN IDEA of a new currency ... and we can all 'mine' our own!).

 

URGENT UPDATE: After this posting I have received a vast number (more than 2!) of enquiries and wish to ask all enquirers to be patient... I am 'mining' it as fast as I can. I will soon be setting up a manufacturing line and employing several ASSistants.

 

I can't really back this up with reliable numbers, but from what I have seen/heard in the past 2 years or so in this country, the most dangerous scams revolve around either:

• selling "quack doctor" type products that are claimed to have miracle type effect on just about any disease. This stuff is allowed to be marketed openly by companies that call themselves "pharmaceutical distributor", or
• pyramid type scams of the MLM ("multi-level-marketing") type, where packs of shady products, sometimes with similar claims as above are sold to "members" who are promised unlimited richess if they can find more "members".
  Nobody cares about customers, you just need to recruit more "members". A particularly stubborn example is an operation called AIM (Alliance in Motion). Many of these scams operate as a religious sect would, including serious levels of brainwashing.

 

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

 

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!