When You Promote a Scammer, What Are You?
June 15
More than a year ago, our province was dubbed the "Investment Capital of the Philippines". This was due to numerous investment schemes that popped up even before the start of the pandemic. However, at the height of the pandemic, there was one particular, and the most popular, investment scheme that came up was the "Double Your Money Investment Scheme". A scam.
However, no matter how obvious, a lot of people fell into the trap. Then there were a few other investment schemes that popped up. Some seven support their "business" with SEC registration. Some even made it appear as a network marketing business that they even have (overpriced) products.
Thus, Our province is now called the "Investment Scam Capital of the Philippines." That is something that nobody is proud of.
How are you doing, my dear and wonderful readers and read_cash family? Well, I got more productive today than yesterday. But I think I could have done a lot more today. Anyway, this topic just popped up in my mind when I heard a certain local radio personality again earlier. I hate listening to that broadcaster but someone turned on the volume of their radio... so I could not help it.
This particular broadcaster, anyway, was somehow linked to the owner and operator of the infamous "Double Your Money Sca". While other radio stations and anchors have been throwing questions and warning the public of this obvious Ponzi Scheme, this particularly (annoying I might add) broadcaster has been promoting the owner and operator of this scam.
Numerous times, the scammer has been interviewed on their radio station.
Before I continue I will call the broadcaster Jameson (After the broadcaster J. Jonah Jameson who revealed the identity of Peter Parker a.k.a Spiderman in MCU's Spiderman trilogy). And the scammer, "Don C", since that's he is known here anyway.
Double Your Money Scheme (Scam)
A little background. Don C is from our city. They say, he is a doctor and worked abroad and got rich. During the pandemic, he suddenly made a lot of noise in the city. Offering an investment scheme that will double your money within 30-45 days. From what I have heard, when he started this scheme, some would even have a chance to double their money within 24 hours by simply spinning a roulette!
They say Don C will invest the members' money in currency trading (Forex), the stock market, and even in Bitcoin. (Yup, scammers will always drag Bitcoin into their scams.) For the succeeding months, he did not fail to payout. So a lot of people believed that it was not a scam. Thus, instead of taking back their money, they will "reinvest" so they will double their money again.
It went on for months. Some have partially withdrawn their initial investments. But a lot of investors kept on doubling their money. The word that Don C never failed to payout each month, enticed a lot of other people to invest. Some sold or mortgaged their properties, including their real estate and/or vehicles to pay in.
It went on for months. Some radio stations have started to question the authenticity of this scheme. They even warned the public since Don C has no permit or whatever form of paper works to support the legality of the business. All but one radio station is questioning Don C's "Double Your Money Scheme" legality but one.
This particular radio station, especially Jameson has been promoting Don C's scheme. They claim that Don C only wants to help the people of this province, especially during this time of the pandemic. They say the paperwork is still being worked out.
Then the National League of Investigating started investigating Don C. At that time, Don C kept on delaying the payout, giving different alibis every time. Then he went into hiding.
I'll cut the story short. Now that Don C is nowhere to be found, a lot of investors lost their money. That was more than a year ago. After Don C went missing, Jameson had been singing a different tune. Each time, Jameson would say that investing in the Don C's scheme was like gambling, and in gambling, either you win or you lose!
Now here is my question:
When You Promote A Scammer, What Are You?
Jameson is a local personality with a lot of listeners. Instead of questioning Don C's scheme, Jameson has been defending Don C thru their radio station. Now, should Jameson and even the radio station be held accountable as part of Don C's scam?
I'd like to hear from you.
Thanks for reading.
This is a difficult situation to handle because, at the beginning of your article you clearly stated that your province have been marked as the capital of this fraudulent schemes. So you see it has become widely accepted among the people of the province. Don C wisely selected a place to profitably run his scam because, the general public already know that they are investigating in a scam but they have the believe that they may be lucky to gain something from the scam. Jameson is a radio personality who was paid to provide publicity to a scam that the people of the province already know about anyway. Don C, Jameson, and the investors (who are members of the province that is already marked as the centre of fraudulent investment schemes) are aware that the scheme is a scam, which is why clean/decent people like you refused to invest in. This kind of situation is a difficult one. But the answer to your question is that Jameson is a Scammer, hehe. Thank you JLoberiza.