News last update:6 Aug 2012

Get-rich-quick scheme in fish feed did not pay out

Another get-rich-quick scheme has victimized a Philippine businesswoman who invested more than €10,000 (P700,000) in fish feed that turned out to be old stocks of potted meat.

The Muntinlupa City police chief, said the trader, whose name was withheld, fell prey to a syndicate that claimed she could earn money easily from selling fish feed.
The victim said the group behind the scheme, which initially expressed interest in buying a house and lot she was selling, told her that they were in the fish feed business.
They then enticed her to be their agent in selling the imported feed.
She added that after several days, another group inquired about the property she was selling. While talking to them, they asked her if she knew where they could buy boxes of feed for their multimillion-peso lobster farm.
Thinking she would be able to get a large commission from the transaction, the woman said she turned over some of her jewelry and property to the first group to serve as collateral for the fish feed.
But instead of earning money, the victim was left with cans of expired potted meat.

Dick Ziggers

Or register to be able to comment.