Senator Poe wants to investigate get-rich schemes
Of course, by schemes we mean scams.
(SPOT.ph) Have you ever been invited by a friend for an "employment opportunity" and you ended up sitting through a speech by some guy who invested in a bunch of seemingly useless products, but got filthy rich in the process? This guy, let's call him Juan, starts telling you how quickly he got his first car and jokes about not doing the laundry today, so he had to pop into Lacoste to buy a clean shirt.
The details vary, but nearly all "multi-level networking firms" operate on the same idea: Some poor soul gets seduced into parting with a few thousand pesos and as a result, people at the top level get more money and then the bubble collapses. Lawsuits follow, as is currently the case for One Dream Global Marketing, Inc.
Three billion pesos is a silly and alarming amount of money duped from other people and Senator Grace Poe would like to protect everyone from having to experience this again, calling for an investigation to put an end to "deceptive investment schemes" and "stop insidious networking scams."
Senator Poe studied the company's documents from the Securities and Exchange Commission and found the circumventing of "existing securities and investment laws, regulations and measures" distasteful. She added, "To prey on our countrymen through deceitful and unscrupulous means is simply wrong and the government ought to step in to ensure the protection of our countrymen’s investments and dreams."