There was an article on 13th June the New Paper on Sunday, about
a famous conman during the early 90s, who cheated 194 people of $8
million.
His investment scams were pyramid-like, but many features of that
scams are similar to many schemes of today...be it direct selling,
investment, commodities trading etc etc
- Boss who is 'a charismatic smooth talking businessman, and who
'oozed wealth and success'. Even if this statement sounds
ridiculous, its almost always a trapdoor for many objective, highly
educated Singaporeans. They were vague as to what the business
plans are or have not met him for long, but people were attracted
by his persona, and to the extent willing to stand by him!
- Legions of minions who 'appeared rich looking and boasted they
received high returns'. A.k.a kakis who do nothing but wearing
expensive apparel and sport gold watches, and sitting around
praising their boss to high heavens. Many were attracted to the
schemes coz 'there are already a bunch of people who were touched
by Midas' hands'
- Vagues business plans. In this article, the conman did not even
bothered to explain his business plans to his investors, yet 194
people invested thousands of dollars each into the scheme. Some
investors 'gained confidence' by his personality, but confided that
they did not give serious thoughts to the loopholes.
- Lots of brainwashing sessions held at companies premises, which
someone once remarked that it resembles Hitler's torchligh parade.
Not much on business, not much on products, and they were all happy
about it. (This refers to certain companies)
And many more...
Compare these with many purported scams of today, which now target
un-streetwise teenagers. Reading through the topics in Kopitiam,
one cant help but to note whatever happened in yesteryears are
repeating itself..with vengeance!
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Pushing this up for comments..