Global InterGold abandon Philippine investors (again)
In a predictable dejavu turn of events, Global InterGold have sought to distance themselves from local business operations in the Philippines.
The move comes after it was revealed last Friday that the Philippine SEC have filed criminal charges against several top Global InterGold investors.
As per a report filed by the Rappler;
Global Intergold (GIG) has informed the Philippine Securities and Exchange Commission (SEC) about an “unscrupulous group” misusing its name for illegal investment-taking operations.
Global Intergold said it has already instructed its legal counsel in the Philippines to pursue those unauthorized parties who have misused its name for their illegal gain.
“Global Intergold has become aware of certain activities in the Philippines by an unauthorized group that has promoted business similar to, or purporting to be, Global Intergold. This unauthorized group is not Global Intergold,” GIG President Jens Krebs said in the statement.
Back in February this year the Philippine SEC issued a warning against EmGoldex, the predecessor to Global InterGold.
In response, EmGoldex issued the following statement:
Emgoldex has no association with fraudulent operators allegedly trading as Emgoldex Philippines.
We do not condone the behavior of these people who are using our name without authorization.
They have no authority at all to use our Emgoldex name, and are causing our brand damage and our customers harm. If you are aware of who these people are, we encourage you to refer them to the SEC.
With EmGoldex changing its name to Global InterGold four months after the SEC’s warning, it appears fraud complaints continued to be filed. These reports spurred continued investigation into the scheme, which resulted in the latest criminal charges being filed.
Here’s the thing though, Global InterGold uses the same Ponzi business model as EmGoldex.
Local Philippine investors were doing nothing more than promoting Global InterGold’s 540 EUR in 7000 EUR out Ponzi scheme, which is the same model EmGoldex used.
The only reason Global InterGold are distancing themselves from Philippine affiliates promoting the scam, is because they themselves are based in Europe.
Rather then challenge the SEC on Global InterGold and EmGoldex before it being a Ponzi scheme, the scheme’s operators instead have just thrown local Philippine investors under the bus… again.
What I find hilarious is that these top investors are likely the same EmGoldex abandoned back in February. Despite the company all but clarifying they were on their own if the authorities came knocking, they continued to promote the Ponzi scheme locally.
Now they’re facing criminal charges, and Global InterGold are again washing their hands of them.
And why wouldn’t they?
There’s bound to be a ton of funds attached to uncycled Ponzi positions owned by the accused and their downlines. Who do you think gets to keep that money if Philippine Global InterGold investors are jailed?