Investment gone wrong

2 years ago, about this month as well, I invested in the business of someone I know personally. They told us that the business was all about trading in stocks and crypto. The promised return was 20% per month. I started with a Php10,000.00 out of the money I received from the insurance fund of my mother. I received my profit for the first 4 months consistently. Around February of 2021, we received another insurance fund and added additional to the investment. The business had many members because they also promoted it and even hired agents. Then, around March 2021 or April 2021 they created a Cooperative and lessen the profit to 12% per month. We were just ok with the set-up since they are consistent in sending promised profits every month. They opened different kinds of businesses like Vannamei Shrimp Farming, soil for plants investments to name a few.

The problem started in June 2021, when the CEO was shot by a gun man. It was a bad shot and the operations of the business started to crumble. They were not able to release on time during that month. Then, thankfully, the CEO was saved , hopes was in all of the members. Then on the next months, more problems arise. The businesses opened did not thrive, the CEO's bank accounts became questioned because of the big transactions sent to the members in the early months since there were members who invested millions. It was even blocked. He said that there was a problem in his trading account and most of our money was there.

Then in August 2021, we did not received any profit anymore. There were investors who preferred the lock-in investment (5 months for 20% per month) who were expecting to receive their investment but there's none released. Their offices started to close because they said they can no longer pay the salaries of employees but they promised to keep us updated through online platforms. This time also, the crypto became so down.

The CEO promised that he will be starting to release on November 2021 but the promise was not fulfilled. Promise after promise and the members became impatient and some resorted to suing them. Various conversations and postings in Facebook page was done. But until now, they seem to be hiding.

With my total investment, I got only a half of return. Sad truth... But I became more sad for those people who made bank loans just to invest. Those people that invested all their savings, even those working abroad who hopes that they can settle for good. Now they are suffering because of the failed promises! I can say that the money was mismanaged and some of the investors were made believed that the money were invested in physical business when after all, it was used for crypto trading which was also losing at this time.

Indeed in investments, all are uncertain, may it be physical, crypto, or even feelings ^.^. Indeed it is a risk and as what they say, invest only with the amount you can afford to loss.

MizLhaine

10.12.2022