Friday, 21 August 2015

Asian investors in VGMC conned for RM 7 Billion (2)

I wrote about this issue before.

Richard Smith has written more articles about this issue, and also about "Power 8" , which he describes as: "Power 8’s a pyramid fraud, not a Ponzi". There seems to be links to VGMC, and both Malaysia and Singapore are mentioned:

"Somewhere out there, there’s an additional $240Mn+ of stray Power 8 investor funds, too: by January 2015 the very same big Far Eastern investors who had trooped out to Power 8’s Spanish offices were complaining that they couldn’t get at their invested funds any more, and the fund-raising leg of the pyramid fraud had run its course."

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