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Hi,

Ivan Boesky Ivan Boesky is an American stock trader who became infamous for his role in an insider trading scandal during the 1980s. This scandal also involved several other corporate officers. Get free shipping on qualified Traeger products or Buy Online Pick Up in Store today. ASIC advises Maxim Capital Ltd / Maxim Trader / Maxim Traders could be involved in a scam. Do not deal with this business as it is unlicensed in Australia. Dan Brownsword / Getty images. Forex management funds have proliferated, but most of these are scams. They offer investors the 'opportunity' to have their forex trades carried out by highly-skilled forex traders who can offer outstanding market returns in exchange for a share of the profits. Maxim Capital and Maxim Trader made various fraudulent or reckless misrepresentations, including the claim that Maxim Capital was a financial service provider licensed in New Zealand and regulated in Belize.

I am writing to you in the hope that you will do a good deed and inform fellow Singaporeans not to fall victim to further ponzi schemes, following the high profile cases of Sunshine Empire, Profitable Plots, Geneva Gold, SureWin4U and the more recent Orchard Road Property scam, where the founder has reportedly gone missing with $60 million.

There are currently at least a few more potential scams that are brewing in Singapore, one of which has already blown up in Taiwan but has somewhat successfully insulated the news from its Singapore members.

Below are their descriptions in brief.

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NUMBER ONE – MAXIM TRADER (http://www.maximtrader.com/)

They claim to be a group made up of expert Forex traders and analysts with many years of experience. The CEO is a Singaporean called Andrew Lim. Since a few years back, they have been going around Singapore, Malaysia, Hongkong, China and Taiwan to offer investment packages to the public which promise generous returns of up to 8% per month. The condition is that the investors must have their funds locked up for a minimum period. They have managed to grow extremely fast through a generous commission system they offer to existing clients to get in new clients.

What’s Fishy about Maxim

First, Forex trading is a very volatile ‘business’. It is not only illegal in various countries, but also nearly impossible to offer ‘guaranteed’ returns due to the volatile nature of foreign exchange fluctuations.

Secondly, if Maxim Trader is handling large amounts of investments, it is going to have problems filling orders on a timely manner. Due to this, they should rationally offer a lower rate of returns (due to lower trading volumes) to be conservative and responsible to their clients if they are really trading.

Thirdly, Maxim Trader is trading through its own brokerage firm – Maxim Capital. This means that any funds remitted to Maxim Capital can be manipulated to show false trading results. Even if a client is seeing trading results through a 3rd party software, this can be easily manipulated on the brokerage firm’s side.

Fourthly, on it’s own website, Maxim Trader’s mother company – Maxim Capital – claims to be a listed company. Sure, it seems to be listed. But try to find more substantial information like its cash flow, financial statements, business prospectus, etc and you will find that you cannot find any. Now, even if they are really listed, so what? Remember the biggest Ponzi scheme ever that was a big listed company – Enron?

Fifth, Maxim Capital was founded by a Singaporean called Andrew Lim –https://www.linkedin.com/pub/andrew-lim/26/793/5aa. Yet there are conflicting reports on other sites that Maxim Capital is actually owned by Royale Globe Holding Inc. This is confusing because this particular company is actually a ‘shell’ company with no business operations, and the president is a 25 year old Thai guy called Yupa Sathapornjariya. So this means that a 25 year old Thai guy owns a shell company called Royale Globe which owns Maxim Capital, both ‘listed’ companies with no visible business operations, models and financial statements.

Now Here’s the Big One

A few days ago, the Taiwan authorities officially arrested the founders of Maxim Trader Taiwan on suspicion of operating a ponzi scheme. They found wads of loose cash lying about, folded into flower bouquets and stuffed into suitcases.

Below is a news article on the case.

Below is a Taiwanese TV news report on the case.

Conclusion

Strangely, the news does not seem to have reached Singapore, and life is going on as usual over here.

This may be due to the fact that the Taiwanese authorities are not communicating with Singapore’s CAD, and that their news are mostly in Chinese.

But one thing is clear; the shit is going to hit the fan big time very very soon.

If you have money in Maxim Trader, get it out now! If they refuse, report to CAD immediately on grounds that they have already gotten in trouble in Taiwan.

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NUMBER TWO – ONE LIGHTINING (http://one-lightningcorp.com/)

One Lightning is a MLM group from the Philippines offering monthly returns on your investments. Although they offer a range of products, it is not necessary to keep purchasing these products or introduce other people in order to get these monthly returns.

What’s Fishy about One Lightning

All legitimate MLM companies need to keep selling products in order to stay afloat and profitable. They charge a premium for their products, and give a generous commission to their affiliates to re-sell their products, in the process saving up on advertising and generating good income for everybody who sells their products. To sell products continuously, most good MLM companies focus on developing good products that people would want to use for the long term.

Strangely, One Lightning is not product centric.

Instead, when they first started out, they offered only ‘investment’ schemes that allowed investors to put in various sums of money for monthly returns based on what they put in. Although anyone who put in money does get some products, the company is not focused on selling the products and does not require their members to do that. These products are also poorly packaged and seem to be pretty generic products.

Although it is also not necessary for existing members to introduce new investors, One Lightning gives out generous commissions to members for doing that.

Due to the generous commissions for introducing friends, the monthly returns without the need to sell products, One Lightning has managed to grow very fast within a few months of inception in the Philippines and has even infiltrated other countries like Malaysia and Singapore.

Question – how can One Lightning be sustainable if it is –

– Not researching and developing good products that people want to buy and use for the long term

– Offering monthly returns to its members without requiring them to sell products or introducing new members (note however that its members want to introduce new members for the generous commissions)

Where is One Lightning’s money coming from in order to pay off the monthly returns to its investors if it does not have a sustainable business model built around its products? The later investors of course! Classic ponzi scheme style.

Now Here’s the Big One

In March 2015, the Securities and Exchange Commission of Philippines officially published notices that they have served a Cease and Desist order on One Lightning for offering authorized investment schemes.http://www.sec.gov.ph/notices/advisory/2015AdvisoryNo2_One_Lightning_Cor…

There are also many articles on One Lightning’s illicit activities that can found through typing in ‘one lightning sec’ or ‘one lightning scam’ in Google.

As of last check, this Cease and Desist order has not been lifted. This means that it is officially illegal in the Philippines to be introducing One Lightning to anyone.

Yet, in Singapore, it seems that the group has been actively looking for new members, probably because it is not banned in Singapore yet.

Conclusion

If you are invited to a One Lightning event, don’t go. Report the event to the CAD for them to carry out a thorough investigation. Warn your friends.

If you are already caught in a One Lightning investment scheme (scam), try asking for your money back or report them to the CAD if you are refused.

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NUMBER THREE – SINGLIWORLD (http://singliforex.com/)

SingliWorld smells just like Maxim Trader and operates almost in the same fashion, except on a smaller scale.

What’s Fishy about SingliWorld

Besides all the similarities it bears to Maxim Trader, the biggest alarm is that SingliWorld seems to prefer trading exclusively through a newly established Forex brokerage firm called TFX Global – http://tfxglobal.com/about-us

Question – If SingliWorld is a legitimate Forex trading company, why is it not using an established and reputable Forex broker like FXPrimus or Forex.com? Why work with a new company with no track records and may potentially screw up their trading or even run away with their money?

Answer- Maybe they belong to the same owner(s)?

There is an excellent article on SingliWorld here which discusses the ownership very clearly. Do read it and form your own opinion.

Now Here’s the Big One

Both Singliworld and TFX Global are on MAS’s Investor’s Watchlist.http://www.mas.gov.sg/IAL.aspx?sc_p=T

If they are indeed legitimate, why not clear it up with the MAS?

Disclaimer –

This article does not in any way confirm that SingliWorld is a scam, but whatever is presented here can be researched off the internet, and you are free to form your own opinion on the company.

Conclusion

Before the shit hits the fan and they reveal their true colours as a ponzi scheme, withdraw whatever you can and run, or report to the CAD if you have trouble withdrawing your money.

Tan
A.S.S. Contributor

Source: www.allsingaporestuff.com

Related Posts

James Wu, whose Hong Kong-based Maxim’s food and beverage empire was a household name in both its native city and on the Chinese mainland, giving it the clout to forge partnerships with the likes of Starbucks and Shake Shack, has died, the company announced. He was 98.

The man, who co-founded Maxim’s Caterers Ltd. with his older brother S.T. Wu in 1956, died on Oct. 29 at the Hong Kong Sanatorium & Hospital, according to a Nov. 19 announcement on the company’s website. His family later announced that a funeral had been held on Nov. 12.

Born in the U.S. to parents with ancestry from the Taishan area of Guangdong province, the two Wu brothers opened their first Maxim’s as a high-end French restaurant at the Lane Crawford House in Hong Kong’s Central district. They wanted to create a high-end establishment that wouldn’t discriminate against local Chinese people, after being repeatedly seated near the bathroom when going to eat at Western-owned restaurants in Hong Kong at that time, according to previous reports.

The restaurant they founded would go on to become a mainstay of the Hong Kong food and beverage scene, known both for its traditional full-service restaurants as well as its bakeries, fast food outlets and catering services. It opened its first Maxim-branded café in 1966, and operated a restaurant in the Hong Kong pavilion at the Expo ’70, a version of the World Fair held in 1970 in Osaka, Japan.

It took on Jardine Matheson, one of Hong Kong’s oldest trading houses, as one of its shareholders in 1972. That year it also opened the first of its signature lower-end fast-food restaurants serving traditional Cantonese fare. It currently has 50 such restaurants in Hong Kong, as well a number of other traditional Cantonese restaurants under various brands.

Besides becoming an everyday fixture of life for many Hong Kongers, the brand also became known to outsiders for its Western-style pastries. Its bakery chain currently has more than 170 outlets, with more than 100 outside the city in locations including the cities of Guangzhou, Foshan and Shenzhen in neighboring Guangdong province on the Chinese mainland. Its traditional moon cakes, sold during the Mid-Autumn Festival that usually falls in September, have become synonymous with the traditional Chinese pastry.

The company has also become known within the food and beverage industry as a knowledgeable and trusted partner. In 2000 it helped Starbucks enter Hong Kong, and became owner of the Starbucks franchise in Hong Kong and Macau in 2011, with more than 200 stores. It was also briefly Starbucks’ joint venture partner in South China, and in 2013 it became an authorized operator of Starbucks locations in a number of Southeast Asian markets, including Vietnam, Cambodia, Singapore and Thailand.

It has worked in similar capacities with a number of Japanese restaurant brands, as well as U.S. hamburger chain Shake Shack.

Wu had two sons and four daughters. The oldest daughter, Annie, was given the moniker “001 Sister” after she helped her father register Sino-foreign joint venture “001” in 1978 at the very beginning of China’s reform era, with an airline catering company. She also became a source of controversy last year after speaking out against protesters in the city who vandalized some Maxim’s stores during violent demonstrations against an unpopular extradition law.

Maxim’s current Chairman Michael Wu, grandson of S.T. Wu, called James Wu a visionary with passion for the food and beverage industry with many credits to his name. In its own statement, Maxim’s said Wu worked tirelessly and wasn’t afraid to do things himself during his 64 years of leadership. Jardine Matheson also praised him as a visionary leader.

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