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Sunshine 's Conditions for fund withdrawal.

Onenightstd2

By Onenightstd2,
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Onenightstd2

Onenightstd2

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Just understand from a SE investor, SE under probed, so everything suspensed for one month, no dividend for this month until CAD completes coffee drinking sessions.

 

 

According to the Shin Min Daily news, 3 conditions needed

before any withdraw of fund can be released.

 

1) must pay minimum S$600/- or more for administrative fee before any withdrawal

2) must wait for 21 days for check to be released.

3) if want faster release of fund withdraw, rope in a new member.

 

The above was translated according to today's newspaper reporting.

 

The 3rd condition is an outright insult to our intelligence and is also a tell tales sign of not enough money to pay

if every member demand money at the same time. ( Just like the opposition party or some of us always claims, our government got no money to pay every Singaporean if we want our CPF money back at the same time)

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Seanboi

Seanboi

1st Gear
Just look at those prints in red.

 

It means " Do not anyhow talk, if not no money to take"

 

By staff of SE to members.

 

This kind of sxxt company dare to threaten their members. [rifle]

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Onenightstd2

Onenightstd2

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According to the Shin Min Daily news, 3 conditions needed

before any withdraw of fund can be released.

 

1) must pay minimum S$600/- or more for administrative fee before any withdrawal

2) must wait for 21 days for check to be released.

3) if want faster release of fund withdraw, rope in a new member.

 

The above was translated according to today's newspaper reporting.

 

The 3rd condition is an outright insult to our intelligence and is also a tell tales sign of not enough money to pay

if every member demand money at the same time. ( Just like the opposition party or some of us always claims, our government got no money to pay every Singaporean if we want our CPF money back at the same time)

upzzzzzzzzz.......

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Genie47

Genie47

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SE is one thing. There are also the banks selling the Pinnacle Notes and Minibonds. Most of them tout them to be like FDs. Lots of aunties and uncles go and buy. Please lah, these are not bonds even. They are baskets of CDOs called credit linked notes.

 

You go read more into it, the more amazed you are at such a complex financial product. Wild beasts of finance. Toxic waste or WMDs of finance as Buffett calls them.

 

I'll how this subprime thing plays out.

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Onenightstd2

Onenightstd2

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Man loses $1,500 in 'investment scheme': By Alvin Chiang December 23, 2007

?

5.gif

INVEST US$1,000 ($1,461) and get back US$250 every month. NP_IMAGES_ACSWISSt.jpg Mr G Joseph, with the certificate he was given. --Picture: KENNETH KOH

It sounded like an attractive 'investment', so music teacher GJoseph, 59, signed up.

He forked out US$2,000 last November and was hoping to enjoy the attractive returns from the Swiss Mutual Fund.

ALLEGED SCAM

Known also as SwissCash, it is an alleged scam in Malaysia.

But Mr Joseph didn't realise this till it was too late. He has now lost US$1,000.

He said he found out about SwissCash last November when a man named Alfred called him and invited him to attend a seminar.

Mr Joseph believes the people behind the scheme could have got his number from newspaper advertisements for his music lessons.

The seminar, he said, was conducted last year in a building in Geylang by a man named Kenneth.

Mr Joseph said: 'Kenneth joined the fund for a year and he said he got back his principal sum.'

He added that at the seminar, 'there were people who talked about how they have been receiving money every month'.

'I was even given a nice book to show how the scheme works. I was impressed.'

At a 25 per cent return rate, Mr Joseph invested US$2,000 and got back US$1,000 over two months deposited into his bank account.

After the first two months, Mr Joseph was told that there would not be any payouts for the next 10 months.

He said: 'I was told that the next payout will be on October 2007. I would get back the outstanding interest payments then. October came and went but I received nothing at all.'

He contacted Alfred and Kenneth but the men claimed that they do not know anything.

Mr Joseph, whose monthly income is about $2,500, realised he could have been cheated after he submitted a form online confirming he was an investor.

But he didn't get any money even after that.

He said: 'I didn't know this would happen. I thought it was a good investment opportunity.'

Last year, two Malaysian datuks and six others aided Malaysian authorities in investigations into SwissCash.

They were placed in remand, reported The Business Times.

SwissCash claimed that investors' funds were channelled to business activities ranging from oil exploration to shipping and agriculture in the Caribbean.

clear.gif ?

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Cheerios

Cheerios

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my bf gong gong join and now got 2 condo and a bmw, please... how many 26 yrs old can earn more then $100k a mth???

 

there's a lot of people also make it rich... so dun say no people will join...

 

Originally posted by abductboy of sgforums:

Actually this is scary.

 

In most pyramid schemes, the early birds usually walks away winners while perhaps 50% of the people wil lose.

 

In SE case, everyone will lose!

 

This is because SE has a regular contests where they encourage everyone to 're-entry'

 

Examples are:

 

:arrow: http://www.sunshine-empire.com/downl...Korea%2007.pdf

 

Quoting..

 

How to Qualify?

Within either Period 1 OR Period 2, any merchant who has fulfilled the following conditions will be entitled for a free ticket to Genting, or to Korea as well if you fulfill all the conditions! (Maximum of one ticket per person per trip)

Fulfill any of the following conditions and qualify for the trip to Genting plus a 200e-points transport rebate:

 

(a) Direct sponsor 4 new Gold Primes as your first generation in your network (all different names & lines) OR

(b) Personal Sales (re-entry) 4 new Gold Primes as your first generation in your network OR

© Combination of (a) & (b) to form 4 new Gold Primes as your first generation

 

And qualifiers for the Genting trip, as long as you fulfill any of the following conditions and you will qualify for the Korea trip too:

 

(a) Direct sponsor another 8 new Gold Primes (all different names) in your first or second generation in your network OR

(b) Personal Sales (re-entry) 8 new Gold Primes as your first or second generation in your network OR

© Combination of (a) & (b) to form 8 new Gold Primes as your first or second generation in your network

 

All conditions must be fulfilled in either Period 1 or 2. Any new Gold Primes done in Period 1 cannot be brought forward to Period 2.

 

You need to re-qualify all 12 new Gold Primes in Period 2, if you only fulfilled the conditions for Trip to Genting in Period 1.

 

Unquote.

 

So everyone will be encouraged to put back whatever they have earned!

 

Now I believe that even Top managers are not spared. With the sales of properties limited to only SE members, Top managers would naturally have to 'lead by example' in buying those units. And in the old FAQ, all buyers must buy a minimum of 10 units. This must be so that they can push it to their downlines.

 

And since once the deal is signed, they have to start paying a month later, can you imagine how much they have to put in monthly?

 

Say for a $700,000 house, a SE member pays 5% over 18 months.

 

So in a year, it would have been $35,000 over 12 months = RM$420,000!

 

So every month, the SE member would have to fork out around S$20k to pay for his house.

 

SE Members will be practically putting back everything they earn initially into the Property purchase. Not only putting back whatever they earn... it will be worse because banks wouldn't lend monry to a project that hasn't even started... so where are they getting the monthly $20k from???? Friends, banks, credit cards, company loans, insurance policies???

 

So if the house isn't built yet in 1 year and the company folds....

 

The implications are scary indeed!

 

I believe this will be a Everyone-Lose scenario.

 

If any SE manager is reading this .. please wake up.

 

In the KL project, SE couldn't even get the design and building location right, and already 50% sold???

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Cheerios

Cheerios

Neutral Newbie
sure... but of cos he join in the early.. and so lucky until now...

 

u stupid si bor.... SE is lose lose even u join early... [laugh] keep asking u to reinvest by forcing u to buy car, condo.... cannot dun buy.. i laughing at ur bf now.. [laugh]

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Verve

Verve

1st Gear

worst still if just recently bought during the price hike and he cannot keep up the installment he would have to declare bankrupkt due to the negative equity.

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Cheerios

Cheerios

Neutral Newbie
my bf gong gong join and now got 2 condo and a bmw, please... how many 26 yrs old can earn more then $100k a mth???

 

there's a lot of people also make it rich... so dun say no people will join...

 

now bankrupt liaoz ah? [laugh]

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Cheerios

Cheerios

Neutral Newbie
my bf gong gong join and now got 2 condo and a bmw, please... how many 26 yrs old can earn more then $100k a mth???

 

there's a lot of people also make it rich... so dun say no people will join...

 

hey... why u online, then offline liaoz... no words to say right...

 

serves ur bf right!

 

fark him for cheating people's moni! now jp cheats ur bf... [laugh]

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Freestylers09

Freestylers09

5th Gear

what bmw what car...hao siao one...the coy put under the party's name...the party die die muz work for them back...wonder why those car achiever this and that..like v happy got a car to drive....the best car is those put under company's name..everything bao by the company,then is the best..

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Cheerios

Cheerios

Neutral Newbie

YAH LAH... like the 2 condos.... malaysian one sibo?

 

built by Sunset empire? now going to collapse liaoz loh... she can think about burning paper condos for her bf [lipsrsealed]

 

all to be paid by her bf.. another bankrupt coming up! [laugh]

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