The headline on The Sunday Paper caught my attention...
Mr James Phang, president of MLM firm Sunshine Empire, was charged for running a Ponzi-like scheme involving millions of dollars raised from the public. This person claimed to be a legend, better than Warren Buffett( if he's still alive, he's supposedly the richest man on Earth). And I personally had 2 encounters with this company.
The first encounter was in 2005. Back then, this company was known as NTI(Niutrend International). I was being brought by my ex-colleague to NTI and it was the first time that I came across a MLM firm. I wasn't sure of how it really works and at that time they were selling aromatherapy(aka essential oils). I did not join them despite their aggressive selling, telling me how I could earn 5 figures through their pyramid networking.
The second one was in 2006. My primary school friend brought me to Sunshine Empire(formerly known as NTI). This time they were involved in some wireless phone call projects in Taiwan. I joined them as one of the members as the returns were very attractive. And partly because of peer pressure and I was too naive at that time. Made a loss of $500+.
The good thing was I stopped investing in their programs and did not recruit any people. I simply don't like the feeling of asking people to join and in return, I earned money from them through the network. I will feel guilty. True enough, MLM does allow you to earn big bucks but I guess is only those who are at the top of the network. And well, MLM just doesn't work for me.
I have some friends in this company. Hopefully, they get back their money. Just keep an alert for this company if somebody tries to get you in.
That's all folks!!
