5 Investment Companies That Vanished With Millions

VGMC

 

 

 

 

 

 

1. Virgin Gold Mining Corporation (VGMC)

What they offered?
It is known that this company gave investors the impression that they were conducting gold mining activities in South Africa and that they had a nice prestigious office in Dubai. They offered investors to get about 12% to 15% monthly. Investors were able to enter into this investment through their Online Website known as VGMC.com.

However, today the website has disappeared and seem to be now taken over by an IT management company called Pelican Technology.

profitable-plots

 

 

 

2. Profitable Plot

What they offered?
Profitable Plot was a land banking type of investment that was offered to the public. In other words, investors purchase a share of a piece of land before it is being developed. According to AsiaOne.com “Profitable Plots promised 12.5 per cent in returns within six months”. Bonds were sold in Singapore to allow investors to enter into this investment platform. Turns out that it was a sacm that has lead investors to lose more than $3 million dollars. The money raised from the public turned out to be used for unrelated purposes that also included paying some debts for the company’s business in UK.

GrowWealthIndependently5EFIC

 

 

 

 

3. Everest Fortune International Corporation

What they offered?
This company called Everest Fortune International Corporation or EFIC in short was known to be selling pre-IPO shares. This will allow investors get about 7% to 10% monthly. They leveraged on the network-marketing model in order to make this investment known to the public.

There were several writings on EFIC’s website that turned out to be a direct copy of VGMC. It is no surprise that within a year or less, they disappeared.

kingdom777

 

 

 

 

 

4. Kingdom777

What they offered?
It was an online investment platform that people could join with a network-marketing structure as well. They were previously known as WCM777 and tried to rebrand themselves as kingdom777. They too offered investors to be able to own some pre-IPO shares of the company and painted some beautiful picture about what their business does.

About a year and a half later, the company’s website also disappeared.

gennevalogo

 

 

 

 

 

 

5. Genneva

What they offered?
An investment into buying gold bars from the company that will allow people to get a return of 2% per month. Towards the end of this company, they offered investors to trade in their physical gold for paper gold. With an intention to turn Genneva into Genneva World that led investors to think that they were growing and expanding globally. However, the director disappeared leaving some investors losing millions of dollars.

A Common Pattern

From observation, there seems to be a common finding with such investment schemes. The business model of how each company makes money is usually made up with stories and no financial data or report back up what they say. Their life span is also usually very short and usually up to 2 years.

It also seems that these companies will also conduct fanciful marketing materials and dinner & dance to put up a beautiful front in front of the public. They also give attractive and high returns to appeal to the greed side of human emotion. And not forgetting additional monetary promotions in order to pull more investors into their scheme.

GrowWealthIndependently5

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