Investment scams are not something new. It is the same Ponzi scheme repeated over and over again with new names and new structures. Some of the reasons why it has proliferated so much nowadays are due to social media and the ease of sending money.
Raising poultry or pigs, and selling them is not a scam. You buy, grow and then you sell the livestock at a higher price based on the market economy (supply and demand). Therefore, the sales or income will fluctuate.
This is simply impossible for those inviting you to double your money through agribusiness. WHY? Because you are dealing with living animals. Sure, in theory, and computation it is possible. The business model works. BUT, there are a lot of factors involved. Like humans, animals get sick or even die. If they get sick, the animal (for example a pig) will weigh less, and therefore will sell lesser compared to a heavier and healthier pig.
For an agribusiness to GUARANTEE DOUBLING YOUR INCOME means they can precisely raise pigs or poultry (without sickness & deaths) and sell them all at the same price. WOW, kayo na ang perfect!
TYPICAL DEFENCE for the Agribusiness Scam
These are mere registration for trade names and permits to operate a business. By law, to sell or solicit investments from the public needs SEC Secondary License.
It is ILLEGAL and UNLAWFUL for any entity to guarantee any rate of return for any Investment being solicited.
How much in taxes did they/you pay? Any profit derived from any Investment is subject to taxes to be withheld and remitted to the BIR. If they are legitimate, did they give you withholding forms when receiving payouts or interest payments? Failure to do so will make you liable for tax evasion!
It’s not the scary beginning or even the middle, it’s the ending. Some people even resorted to killing themselves when the scheme collapsed.
Many people don’t realize that they are just one step away from this direction. Although, not all but we really don’t know how someone will react and also how deeply they are invested in.
Think of building wealth like planting a tree. It takes time and sufficient care to make it bear fruit.
“Investment is most intelligent when it most business like” – Benjamin Graham