Some were "paying" much more than that and being heavily promoted by "agents", some British, who have encouraged people to borrow in the UK at low rates and re-invest in the Philippines. The Legacy group have collapsed and that money is thought by now to be in the Caymans. It was all a Ponzi scheme and proves once again that something which looks too good to be true, usually is. I warned about this months ago and got roundly abused here in Cebu for being too cautious. Some people have "invested" up to 100 million pesos and will have lost the lot, unless the PDIC manage to pay up. Their payments are very limited and wont be for quite some time.Originally Posted by Sim11UK
My advice is never put your money into anything like this. There are more scams here than you can possibly imagine, always perpetrated by nice people with big smiles.
