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Have you heard of the Malaysian guy: Lee Cheng Soon? |
Travel Info Somebody I know is lured to invested in www.colonyinvest.com I've checked from google and it looked really like a scam but I still can't prove it. I found the name Lee Cheng Soon or Lin Guo Qiang but most of the info aren't written in English. Do you have any information on who he and if police in Malaysia and Indonesia are now looking to arrest him? Travel Tips Investment Scam Schemes There are plenty of fraudulent investment schemes out there. If a scheme sounds too good to be true, well, indeed, it's probably not true. Artists against 419 (419 is also known as Nigerian fraud) has a database of fake Banks (http://db.aa419.org/ ). Alas, this list is not complete, new schemes pop up all the time. Let's have a look at a recent scheme: www.colonyinvest.com . Can this be real? They apparently advertise their business mainly on Asian webboards (e.g. Malaysia), and seem to rely on word to word propaganda to sign up people, apparently in a pyramid scheme. So, let's examine the Web site. The "About Us" section: They claim to be the online investment branch of a major Investment company "Colony Invest Management Inc. ". Web searches do not reveal any company by that name. Further, they are supposed to be based in Rochester, NY, but a check in the list of supervised institutions at the "State of NY Banking Department" http://www.banking.state.ny.us/supinst.h... ; does not reveal any such company. Most revealing is that nowhere in the Web site is any real adress or phone number listed. Highly suspicious. Look at the supposed list of directors, many of the places they supposedly worked at cannot be found on the internet: Estine Development Group, London Tucks Development Agency, Smith Simpson College, Barbra Capital Partners, Clinton, Dubbier & Rice, Inc. There is a "Simpson College" without "Smith", but why should a "reputable" company make such a mistake... Anyway, this whole list is just made up to look impressive. Well, well. The Web is an endless source of fraud. BBC just had a news bit on "Corruption that is damaging education" (http://news.bbc.co.uk/2/hi/uk_news/educa... ). One part of this was Fake Universities on the Web (http://news.bbc.co.uk/2/hi/uk_news/educa... ). Some universities mentioned in the article are "Shepperton University", University of Dorchester", "GM University", "Greater Manchester University Ltd". A check of the still active Web site of "Shepperton University" reveals a page for International Students that says "All tuition and fees must be paid in U.S. currency and all checks drawn on U.S. banks." All other tuition fees are also in US$. Yeah, sure, for an English university in England, you need to pay in Pounds. But another key way of detecting the fraud is the Web address: From BBC "The website addresses of the bogus institutions are a quick giveaway, because they cannot obtain the bona fide ".ac.uk" domain - though it has been known for some to use ".ac", the Ascension Islands domain." In other countries, like the US, academic institutions usually end in ".edu". In other countries it may be more difficult to get a list of real universities, as there is no system such as "ac.uk", or ".edu". Still, it should not be too difficult to find real institutions with proper Web sites that list addresses, faculty members, etc. What about the links to the companies they invest in, the references? You will notice that these are just links to other Web Sites, and none of these other Web Site ever mention or link back to ColonyInvest. So, where is the Web site registered? A search on http://www.whois.net/ brings us to the registrar godaddy.com (where you can register a web site for 10$ a year). The information there yields: Wow, a single person in Fremont California (whatever happened to Rochester, NY?) is listed as administrator and technical expert, and he has a yahoo email address in China! How fishy is that? A reverse lookup of the phone number at http://www.whitepages.com/ gives us the following information for the same phone number: Ibi synergy (http://www.ibisynergy.com/) is an importer of condoms for NR Synergy in Malaysia. This seems to be a little legitimate business. You can make another lookup for this Web address and find another owner listed for this phone number. But clearly, this is very different from what ColonyInvest is supposed to be. Finally, let's look at some of the fine print of ColonyInvest. In their FAQ: To deposit money into an account of theirs, they charge 5%!. To withdraw money, they charge 10%. So, according to the example given, you deposit 1075$, and when you want to withdraw it later, you get 860$ back. So, together with fees, they take 20% of your money, what a rip-off. No reputable bank will do that. And nowhere do they promise you any garanteed profits... For each transaction in the market they charge you 50$. A search for "online banking" will give you many online banks that allow you stock market trading for less than 10$ per transaction. So, in conclusion, just stay away... At least this gives us the opportunity to look at their claims. So, for 1000$ investment, at 3% interest per day put into a separte account, you get 1000$ in 33 days. You are supposed to gain 3000$ to 4000$ (it's not quite clear how this strange scheme is counting) in the short time of 100 days. Impossible with the investment sources (stock market, commodities) they cite on their Web page. They clearly want to cheat unsuspecting people from SouthEast Asia. They offer low investment limits (just 100$ gets you started), and they have a strange online keyboard for entering information. This only makes sense if one thinks about possible entry problems caused by keyboards and alphabets in different countries. They want to lure as many people as possible in a short time, therefore the network and friend-to-friend bonuses. Clearly this is an illegal pyramid scheme. WWW.colonyinvest.com could be shut down any moment, and the only one who profits is the Web operator who collected all the money. Perhaps he will pay out some interest to the first investors to generate a positive feedback, and keep the money coming in, but at some point, this Web site and the money will just disappear. Since this seems to have started in April, it could stop any day. Again, just keep away from such sites. Also I found related articles concerning colonyinvest at E-commerce journal:- http://ecommerce-journal.com/news/forexi... Most importantly, do not committed in these kinda of investment scheme because it is a scam. Spread words to friends and relative and dont get cheated... Source(s): http://cheatsense.blogspot.com/... http://ecommerce-journal.com/news/forexi... Other Travel Tips It obviously is a scam and Malaysian police won't be after them, trust me. They'd rather be sitting their butts and taking bribes from the rich criminals or beat the hell out of poor ones, taking things 'easy' and laid back in everything they do. Indonesian police is just the same in this aspect and don't expect anything from them, though I must say that the Malaysian police are the worst of their kind in the region. I had been reading Malaysian newspaper everyday but so far to date Ive never heard of this name being arrested,Whatever it is do not invest on this thing that nobody knows about. its dangerous.He is obviously not a corporate or famous renowned individual.Lee Cheng Soon?? never heard of him. i think i have heard his name is it the cunning business man Its a scam! Sorry, never heard of him. Good luck to you in your effort to find more info of him. |
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