Almost a victim of a love scam

Ad Majorem.....Wealth Builders

Report of love scam in Iloilo

In one of the messages I received last week, a purported US Army sergeant, a lady was alleged to have taken in a fortune in one of the raids in Afghanistan a loot, of which $1.5 million was her share (about P75 million in PHP)   Prior to that she was asking how she could invest in the country.   She would give me 10% as my share for facilitating the entry of the loot into the country.

Now she would like to bring in  the loot via diplomatic pouch and all that she needed are my complete name address and cp number.   It could still be an African scam.  Nothing in the world is free.  I hew hawed for a while and thought about having a staff provide his name, address and cp number.  The following day, he said no, saying there was such a transaction and NBI and BoC promptly made arrests.

I informed the messenger.  No.   Later in the evening, there was a report of breaking of a love scam ring perpetrated by certain African citizens.   They would post at FB pictures of beautiful ladies had a script for them.  It will end up with the deal having to push through if you would come across P100,000 to pay for customs.    There were no beautiful American soldiers    They are all scams.  After I put in the messenger the said news, the pretty American soldiers disappeared.

Beware

HIgh profile scams in the Philippines - Beware greed can take you in

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If it is too good to be true, then it is a scam

Here is a list of top 5 scams in the Philippines:

From I Money - top investment scams in the Philippines

This post was inspired by the broadcast by Failon this afternoon at the  TV of  the KAPA

Some of the scams were:

1.  Legacy Group by Celso de los Angeles and this involved 12 rural banks and their eventual downfall.  Erap termed these are robbers in suits     Educated people stealing people 's money

2.  KAPA    and Rigen donations to the religious group will earn 400% per annum perpetrated by
     KAPA head Joel Apolinario.  He is in hiding right now and invokes  the  separation of church
     and state on why they should not be sued.   Pres. Duterte allegedly stopped this at the  instance
     of Pastor Quiboloy, a competing religious group. 

     It is clearly a pyramiding scam where the investment of Juan pays off interest of Pedro.
     The pyramid stops when there a no more investors. 

     This is huge scam involving probably high billions of pesos.  In an town where people are poor
     in South Cotabato collections run to as much as a P100 million  day. 

3.  Emgoldex  -  fantastic returns from Gold bars investment

4.  Aman futures.  founded by  Manuel  Amalillo a  Filipino of Malaysian descent.  He fled to Malaysia was imprisoned and has been freed.  He has not been extradited to the Philippines.  (Crime does pay?)  The mayor of Pagadian City  and his wife were allegedly involved and they got away free.

5.  Franc Swiss which offered 4.5% interest for 10 days.    Allegedly the mastermind was Eleazar del Castillo who was charged by NBI.  Its victims were high profile celebs.

There will always be scams for as long as people dream and desire high yields.  As we all know,  legal and decent returns to business are in the low single digit.   You can earn much in promising breakthrough businesses if you are lucky for multi bagger stocks like Microsoft, Google, FB, etc. But these are few.

Scams thrive in areas like Visayas and Mindanao. The scammers take advantage of the lack of financial literacy of people and lack of enforcement agencies like SEC.   And participation of local execs in the crime thereby adding to the legitimacy of the scam.

Still great returns are achieved through honest hard work  and serving customers well. And thrift/

Beware of scammers

Ad Majorem.....Wealth Builders

Many scams are being reported being committed on line.   Before robbers used guns and knives to divest individuals of valuables (they still do) but much of this old crime is being committed via smartphones.

Some modus:

1.  Prepaid orders -  pay before  delivery.  Most dont. I have been a victim of a wheelset dealer from
     Toledo City.  May they perish from Covid 19  (karma marahil why Cebu is epicenter of covid 19
      He  delivered my first order but did not hear anything more about P25,000 is paid for a wheel
      set.  Beware of far away buyers.   If you cant buy it COD or at a store, dont.   

2.  Bogus buyers.     They will order but will not appear or change their mind

3.  Pishing   -  Getting your credit card or bank account number by somebody alleging to be somebody from the bank.   He/she verifies your account and PIN number.  Tapos.   Then they clean out your account number

4. Variation of Pishing -   getting your SIM card in exchange for a new one. 

If you lose money, you lose your chance to create more wealth   

Ingat. Dont fall for scam.    People are wiser than ever to get your hard earned cash in view of the hardship in this pandemic.  They tend to be more creative

3 easy reminders on how to save and start being wealthjy

Ad Majorem.....Wealth Builders

Rizal Philippines
January 24, 2018

Millenials are known to be spending on vacations on food, and things that are only for consumption rather than for savings and investment, making them ill prepared for any emergencies or their future. The emphasis is on now, not the future.

Hence a TV station prescribed three easy advice on frugality and savings for frugality:

1.  SAVINGS NOT CRAVINGS

2.  STOP DONT SHOP

3.  STAYCATION NOT VACATION

May be you will save a lot and not live a life of a pauper when times get rough

10 companies will be extinct for the next 10 years

Ad Majorem.....Wealth Builders

1.  Restaurants

2.  Retailers

3.  Insurance

4.  Cars  (because of Uber)

5.  Journalism

6.  College and sports

7. Gas Station

8. Politics

Why you need to improve work ethic to improve your career

Ad Majorem.....Wealth Builders



Tim Ferris formula of 4 hour work week does not work...

If you do not have work ethic

Work -  a physical or mental  work to achieve goal

Ethic -  science of moral - a standard of behavior or right and wrong,  what is acceptable

Your ethic, what is acceptable varies according to inviduals

1. A person with good work ethic is predictable;  any disruption creates a disruption;  when you disrupt you  lose the momentum.

2.  Consistency. You do things as per procedure

3.  Proper preparation (You  are confident if you are prepared for a meeting, conference, speech)  Prepare
     ahead.

4.  Do more (in accordance with a purpose) Do a liitle bit more

5.  Do it now mentality, not later, not tomorrow.  Avoid procrastinate

6.  Find a running mate to push each other (a coach;  working hard buddy)

7,  Remove excuses

8.  Have a to do list

9.  Remove leaks (the waste, delays)

10.  Cut the fat

11.  Take the shot even it it is not perfect

12. Eat right for energy

13. Avoid burn out

14.  You motivate/reward yourself
   

How to be a millionaire - it is easier than you think?

Ad Majorem.....Wealth Builders

How to become a millionaire

    How many have climbed Mt Everest   only 4,000 out of  7 billion people

    How many new  millionaires are created annually in  in USA  620,000 / 300 million. population

   1,700 new millionaires are minted in USA daily    (can we have a third of that in the PHL  say 550)
 
   CAN YOU BE ONE OF THEM?





                Things to consider:

                1.   Logic                                                      Emotion

                     Math                          1 Belief  vs Lie (I want to be a millionaire - is a lie now)
                                                          It is a future truth

                                                        2.    Perspective  (see the  big picture)  make big small
                                                                             (it is not a big deal)

                                                        3.  Question everything

                                                        4.   Focus on what you do to fix yourself to reach
                                                                            that number  (new truth)

                                                         5.  New truth:
                                                                     Discipline

                                                             1 . Out work
                                                             2.  Out think
                                                             3.  Out last
                                                             4.  Out strategize



                     How many do you sell to make P83,333.00 a month

                     How many downline do you need to get your ORC for you?





What you need to develop permanently to be a millionaire.  You need to develop skills to that money that goes around the economy stays with you to pile up the money to invest

1.    Persuasion  (to be a millionaire, to recruit people, to attract investors). You got to psyche yourself
       Learning how to sell, learning how to negotiate

2    Reading people (how to psyche people)  who are scammers, read employees,   Only paranoid survive
      How to treat people well To be considerate;   Reading signs of buying, investing..

3.   Sharing the wealth (tithing) or having stocks being public;  creating wealth for others;  creating jobs
      When you go into business, more people make money.  Midas touch

4.   Millionaires master leverage...  (In order to level up, you have to leverage, scale up in a big way)
      Crowd sourcing, crowd funding; team, recruting, social media, collaborating.  What must I do to make
      things work

5.  Recruit:   board, sales people, new staff, executives. mentors,  investors

6.  Energy Management having sleep, physical fitness.

7.  . Problem Solving (what’s worth putting time into or not into)

8. Time Management(instead of spending time on social media spend time selling)

9. Money management 

10. Be aggressively patient( put in work and it will come)

11. Learning( constantly working on improving your craft. Have beginner mindset.)

Steps on becoming a millionaire

Ad Majorem.....Wealth Builders

Great advice by Grant Cardone




Why you must aspire to save millions?  Start earning now... If you have no income, if you have one million, you  are going to be poor.  

If you spend P10k a month  P1,000,000/10,000 =   100 months  (less than 10 years)

You want to be a millionaire because you want to to be financially secure.

So are you going to settle for only basic salary?  Is your target enough...

Steps:

1.  Set target  not lower than 10 million
    If you have changed your target, everything changes...

2.  Have 40% target to invest  (store money? )  Invest  If you store money, you lose it....

3.  Invest;  for that matter treat every customers as investors...

     If possible, rent dont own cars or houses... Store your money to invest...

     Rules:   1.   Dont lose
                 2.    Dont lose

     At bank, you lose money, you double your money in 33 years

4.  Seek passive income that exceeds your monthly income

     1.  Source of salary to pay off your expenses

     2.  The other source of income to give you financial freedom

     Imagine many brooks or streams flowing into a main river

10 things rich people do

Ad Majorem.....Wealth Builders

10 things that rich people do that poor dont do?

1.  Self education

2.  Find mentors (seek role models)

3.  Finding passive income (to multiply your income stream)

4  Know difference between assets and liability

             Assets -   generate income
             Liability-   expenses

5.  Buy strategically (but assets that generate income or reduce expense)

6.  Differentiate between Net Income and Networth (how much do you keep)

7.   Value =  Money

      Effort =  Money ?   Most working men focus on this

8.  Focus on opportunities not problems or obstacles

9.   Rich promote what they are good at.  (on strength)

10.   Surround yourself with awesome and passionate people

Five Laws of Gold - why some people are rich and some are poor

Ad Majorem.....Wealth Builders

5 rules of Gold

1. Set aside 10% of your earnings for your investment

2.  Invest your money (multiply your  money;   parable of the talents)
     Differentiate between luxury and necessities.  Consider investments as your soldiers bringing back to your
     wealth

3. Seek wise advice;  no gut feel or go with fad;   seek professionals, avoid scam... Seek experts

4.  Seek business that you are familiar with

5.  Gold flees the man who seek impossible returns...(There is no get rich quick scheme)

Pamaskong Handog of Majorem Lending 0.99% monthly interest only on loans

Ad Majorem.....Wealth Builders

Rizal Philippines
November 28, 2017

We are giving our Holy Gardens customers a chance to avail of very low interest on their consumer loans.   Hurry hurry.  Inquire from the Holy Gardens nearest you or contact the phone number at the ad.

Call now  0917 305  6985

Inquire now

Who wants to be a millionaire? Maybe there are millions millionaire now in the Philippines

Ad Majorem.....Wealth Builders

Rizal Philippines
October 18,2017

Judging from the number of new model cars and SUVs that cost millions,  that are seen in overcrowded streets in MM and in the Expressways, the number of new homes and condo units being built and sold, we can conclude that there now so many millionaires in the Philippines may be millions.  Are you now a millionaire?

Dont you dream of being a millionaire?

If you are a wage earner now you can save P5,555.00 a month for 15 years, and you can accumulate P1,000,000 (without interest)

Most wage earners can save that much but they dont.  The very young people would be enamored with consumerism:   spend spend spend travel travel.consume.   Malls malls

But you can become a millionaire too:

Read these tips:

How to become millionaire in the Philippines in 5 years

From Philstar - Excerpts from the Millionaire Next Door    -  Habits and lifestyles of millionaires I have read this book by Stanley and a required reading for Entrep students

Start up tips on how to become a millionaire - from Entrepreneur

Some experts prescribe to accumulate 10 million. That would take care of your expenses of say P10,000 per month to 1,000 months or 83 years and to take care of your children/s education, medical emergencies, accidents, and when you spend your last day at a a home

Second largest Universal Bank hit by an internal fraud - another woman did it

Ad Majorem.....Wealth Builders

Rizal Philippines
July 21, 2017

                                The suspect, Ma.Victoria Lopez hides face while presented at press con

                                  ABS CBN - how the NBI caught the lady executive in MBTC scam
The second largest bank in terms of resources was hit by an internal fraud and allegedly perpetrated by a woman. with a rank of  vice president.  earning about P250,000 a month.  Losses were estimated to be P900 million but could be as high as P2.5 billion.  The lady officer has been arrested by NBI and was alleged to be not cooperating.

She was alleged to have siphoned off amounts from the credit line of URC and has been transferring the loot to other accounts.   The NBI as advised and the officer was caught in an entrapment operation.   Another lady a branch manager was involved in the money laundering  case at RCBC.

The lady officer could be tried for qualified theft and violation of banking laws.  The scam involved unauthorized drawdown from the credit line  of a bank client.  The suspect was caught shifting the interest payment to the subject bank loan (we were hit by same type of scam;  the suspect is still scott free)

The Metrobank shares dipped 4% at the stock market. But Col Financial still recommended a buy for Metrobank. Metrobank assured the public that the amount involved would not affect its P1.9 billion resources.

Again we emphasize control, proper hiring emphasizing I of PIC (Integrity) and never be complacent that women are incapable of committing crimes.

97% owned Positive Money Cut - Money creation is largely held by Private Banks

Ad Majorem.....Wealth Builders

Rizal Philippines
April 18, 2017


97% owned

I just watched a documentary from ANC which is in the You Tube, about money creation by private commercial banks. Banks create money by lending. I have understood it early on when we founded a savings and loan association.   The largely held belief was that:

1.  Deposits generation or money is a zero sum game.  The deposits, money in circulation is fixed. That if you campaign for deposits, it would be taken from another bank.  Thus the rural bank which was our competitor which had only P1 million in deposit (I used to work there) would lose a part of that deposit to us.  However it did not happen that way.  We ended the year with P5 million in deposits and the rural bank had two million deposits.

2.  That deposits are just like money in piggy bank.  Deposits are just like coins and bills put in a piggy bank and you take  it when you break the piggy bank

Being a non banker,

1. I found out that the CB and commercial banks create money  And you create money by lending.  That money is an IOU a debt paper issued by the central bank

 2. There is no gold reserve.  It is fancy money.  Created only by accounting system. It looks like crazy system

An entity like a savings and loan association can create money.  5 years later, the deposit of the bank was up to P100 million and they did not just come from savings of depositor.   Some of them came from lending

3.  That a business cant grow fast enough if you do not create your own money.  SM created money by creating gift check.  Now it creates more through credit cards.   As far as our business is concerned we created money by lending retail mortgage loan to the buyers of the real estate company we organized.   We lent to buyers, the buyers paid the real estate company, the real estate company deposited the sales proceed to the bank.  The sales of the real estate company grew, the deposits, (deposited by the real estate company)assets of the bank (in the form of loans) grew. And these were all legal

Financial Calculator (free)

Ad Majorem.....Wealth Builders

Use this financial calculator for your level payment mortgage/auto loan  computation

Provided by: Interest.com

Under the fractional reserve system, the funds do not exist - they are virtual

Ad Majorem.....Wealth Builders

Rizal Philippines
September 8, 2016

Under the fractional reserve system and the currency system under the fiat system, a P100 deposited for banks with required reserve of 3% can multiply up to P3,333  Only P100 is the only real thing in the system.

Hence the when the financial system collapses, there is nothing left.

The whole financial system is a magic - virtual

Compounding interest as the Eight Wonder of the World by Albert Einstein

Ad Majorem.....Wealth Builders

Rizal Philippines
September 8, 2016

According to Albert Einstein, "Compound interest is the eight wonder of the world.  He who understands it gets it;  those who do not pay it."

From Goodreads

“Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”

― Albert Einstein

20 Right (and Wrong) Reasons to Start a Business

Some reasons that motivate new entrepreneurs are better than others, and some are down right bad.

Someone forward you this email? No Sweat! Sign up here to get your own If you're having trouble viewing this email, click here Follow Us About.com on Small Business 20 Right (and Wrong) Reasons to Start a Business Some reasons that motivate new entrepreneurs are better than others, and some are down right bad. READ NOW Trending Now The 7 Most Common Business Plan Mistakes   Is Debt Financing Worth the Risk?   Advertisement