Wednesday, April 17, 2013

India rocked by emu Ponzi and sheep Ponzi

High sheeps
High sheeps (Photo credit: Bertoz)
Various farmers in rural India were cheated into invested in emu farms and sheep farms that promised return of 2% PER MONTH.

SHD (Sheep Husbandry Department) is believed to be a Ponzi, under investigation by Indian regulatory authority SEBI. It was only 4 months ago (November 2012) that SEBI warned people off Beetal, another sheep-husbandry scheme. The farmers will participate by buying a sheep for several thousand rupees, and once the sheep multiply (typically give birth to a litter of 4) that will give alleged high profits, and the company will "guarantee" buybacks.

Only a year ago SEBI warned farmers off emu farming by "Susi Emu Farms", that followed the same formula... they sell pairs of emus, you raise them have them lay eggs, hatch them, grow little emus, and sell them back. Soon there was a "VIP Program" where you don't even need to invest in the farm... just give them money and they'll do the "real" emu rearing, you just reap in the profits. It was all fake, and 50 million was believed lost.

It is interesting that this was the EXACT SAME tactic used by Arlan Galbraith and his "Pigeon King Intl" Ponzi in Canada. You buy pigeons (and maybe feed) from him, raise the pigeons, he'll buy them back when you got them grown. The case is still pending in Canada.

Ponzi schemes are not all investments. They could be disguised as business opportunities. Do not be deceived.
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