200% returns and 120-year lifespan, new "Biblical" investment scheme promises

Hanno Labuschagne

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200% returns and 120-year lifespan, new "Biblical" investment scheme promises

The Financial Sector Conduct Authority (FSCA) is investigating a South African investment scheme promising 200% annual returns and "alternative health products" that guarantee a minimum lifespan of 120 years, according to Rapport.

The paper reported that it is in possession of several YouTube videos posted by MyWealth Method, a "Christian-principled" investment scheme that has seemingly already received millions from investors.

According to Rapport, the videos were freely available on YouTube but were made private after it contacted MyWealth Method for comment.
 

Synaesthesia

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200% PA, nice and simple. I like it. So you double your money every year, just like that proverb with the Chinese Emperor, who starting from one grain of rice, doubled it on every block of the chessboard ...
 
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gertvanjoe

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200% PA, nice and simple. I like it. So you double your money every year, just like that proverb with the Chinese Emperor, who starting from one grain of rice, doubled it on every block of the chessboard ...
You don't just double it, you triple it.

I'm keenly awaiting the flood of newly registered members defending this hogwash. Like they say "a fool and their money, are easy to part"
 

gertvanjoe

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But if it is "Christian" then it must be legit...

Unnecessary full disclosure: I am not an angry atheist. I am a Christian.
I am also a Christian. A level headed one who knows people will pretty much do or say anything to get you to part with cash, especially if you are already interested. One who knows not to trust a preacher when money is being discussed from the pulpit (I really am cynical yes, hope I will be forgiven to think as such)
 

supersunbird

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The moment religion is brought into an investment it's probably a scam.*

*Unless it's just rules in what you may or may not invest in, but even that's a stretch for me personally.
 
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now05ster

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I am also a Christian. A level headed one who knows people will pretty much do or say anything to get you to part with cash, especially if you are already interested. One who knows not to trust a preacher when money is being discussed from the pulpit (I really am cynical yes, hope I will be forgiven to think as such)
I agree here! So much to say on this topic, however I stay clear from PD threads here. I fear it is never productive.

Anyway, I hope investors see the light soon.
 

deweyzeph

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I really find it hard to have any sympathy for people who fall for these "investment schemes". It really boggles the mind when you see some of the sums of money that people have been fleeced of. It makes you wonder how these people got their money in the first place if they are so financially inept that they fall for these scams.

Edit: I've seen people who should know better, like accountants, lawyers, financial advisors, etc fall for schemes like this. Greed really makes you do crazy things.
 

The_Ogre

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I am also a Christian. A level headed one who knows people will pretty much do or say anything to get you to part with cash, especially if you are already interested. One who knows not to trust a preacher when money is being discussed from the pulpit (I really am cynical yes, hope I will be forgiven to think as such)
The number of pastors in that MTI data leak was quite interesting.
 

PsyWulf

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You know what would be funny, if this director was named Johan.....
Does it count if Rich Simmonds recommends them (he does)
One MTI "fan" recommended this to help make your losses back

See if you recognize any previous experience from some of their directors
Lifestyle Galaxy Mining
Elamant
 
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Paul Bedford

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... trusting them Christians....quite another in my experience. (Very sadly)
Agree, the only time I've been ripped off in business was by people who made a big show of their Christianity. Now if anyone claims to be a Christian and wants to do business with me I run the other way.
 

ld13

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Right, so this is easy. . .

/me turns journalist

*cough*

@AfriGuy, can you confirm that the (Afrihost) Data Centre [suffered a power outage] on Friday, [and that power was only] restored [to] the DC by Saturday? Any comments about the claim that there were power spikes [that] had disrupted [mywealthmethod.io's] database server?
 
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