singapore mlm companies
The Network Marketing Scheme: Sunshine Empire, a Recent Work From Home Scam From Singapore
Another work from home scam surfaced in Singapore and they are being brought to justice in 2009.
Is this a failure of Network marketing scheme? After doing some detailed studies, I found that the problem is due to misuse of the distribution system.
This is the details:
The management team of Sunshine Empire is facing 20 charges, including running a fraudulent business and criminal breach of trust.
Sunshine Empire was set up in May 2006
At Sunshine Empire, people signing up as merchants under specific plans to shop on its online shopping platform get consumer rebates known as ‘e-points’, which can be used for online shopping or converted to cash. The rebates are not guaranteed.
The scheme is structured in such a way that participants are not required to use the rebates to buy Sunshine’s goods.
With an out front investment of $12K (USD 8000), you will get $1000 (USD 677) back every month for the next 8 years.
The company has its presence in Indonesia, Thailand, Hong Kong, Korea and Taiwan and United Arab Emirates.
In Singapore, there are about 20000 members and the company collected S$189 million. (USD 126 million)
The founder of the company is known most famously for the collapse of “Magic Kingdom” resort project in Indonesia in 2002/3 where hundreds of people lost a total of few millions. He is also known to head various dubious mlm companies
What do you learn from report?
1) There is a lack of proper education of what is a legitimate network marketing business opportunity.
Any Network marketing scheme is illegal where the commission comes from sponsoring of other members.
All legitimate companies rewards their members through products sales.
2) You should be cautious when you ask to invest a large sum of money up front.
3) Company presents a plan where you just need to invest money and make large amount of dividend each month (more than 1% per month) belong to high yield investment plan. The risk of losing your money is very high. But most of the time, they use distribution channel like MLM to market their service. Majority of them also use internet to solicit their business. I have done some research; most of them have shut down their operation after 12 to 18 months. As a result, the late comers lost all their investment.
4) When you want to build your mlm business with a company, please know who is in the management team. You may want to check out the background and the history of top management officer.
5) Be aware of your own emotion that controls your decision. Most of the members that join Sunshine Empire are due to greed. When your emotion is high, intelligent will be low. When you are in doubt, do not rush to make a decision. Take some time to think about and ask some questions as to where they get their funding to pay you.
6) Do not give up on network marketing. There are many more legitimate network marketing opportunities waiting for you. You must continue to pursue your dream of financial freedom and do not give up.
You must be careful in deciding which business opportunity to invest your money and time. Then making money and achieving financial freedom using network marketing should be rather easy and simple.
About the Author
Click here http://www.worldsponsoringacademy.com for FREE tips for generating unlimited leads for your business.
Ngoh Kwong Meng has not only been successful as a successful enterpreneur, but also as a leader in the field of Network Marketing.
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