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Zoey, JD
Zoey, JD, Attorney
Category: Legal
Satisfied Customers: 26425
Experience:  Active member of the NYS bar since 1989
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is VGMC real or fake ? is it a scam ?

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is VGMC real or fake ? is it a scam ?
Hello,

If by VGMC you mean Virgin Gold Mining Company, we have been asked about them on this site many times before and believe them to be a very sophisticated fraud. They are on numerous international alert lists to warn off potential investors.

If you are talking about some other company or product please use the reply link below to tell me what your VGMC stands for and I will look into that for you.
Zoey, JD and 2 other Legal Specialists are ready to help you
Customer: replied 4 years ago.
Yes i am talking about Virgin Gold Mining Company. and,
As you said: They are on numerous international alert lists to warn off potential investors.
Could you kindly give me the links for the said alerts.

i will be really grateful for that.

Hi,

I'm sorry for the delay. I've been backed up with customer follow ups.

Both the Malaysian and the Singapore securities and exchange commissions have posted investor alerts for VGMC. There may well be others but these make my point.

Here is the link to the Singapore international alert. http://www.mas.gov.sg/IAL.aspx?sc_p=V

Here is the link for Malaysia: http://www.sc.com..my/main.asp?pageid=1032&menuid=272&newsid=&linkid=&type=#v As you can see, VGMC is unlicensed to engage in the activity it is taking on.


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Customer: replied 4 years ago.
Hey,
Thanks for the above links .....they are quite useful.

but the only think i dont understand is, how are these people(VGMC) are able to give the Dividends on time and that too for past 18 months or more.....not a single complaints against them yet. and some of my friends says that they have been to their UAE office but they were not allowed to go inside since it is only permissible for the preferred share holders and no one else.
Hi Zafar,

Although you didn't ask about that, there are plenty of reports on the web indicating that VGMC is a Ponzi scheme. They pay off because new investors such as, potentially, yourself, invest, and while there is a steady stream of new investors, they newbies are funding the returns for the people on top who want to withdraw their profits.

Ponzi's are illegal, which is why VGMC is incorporated off-shore and so very careful about giving out any meaningful information. After a while, the stream of new investors fizzles out and the whole enterprise will collapse. All of these high yield investment plans operate the same way. That's what happened to Madoff's Ponzi and what will eventually happen here. The average lifespan of a Ponzi is about two years. Some make it beyond that point, but not many.

Naturally, VGMC will deny that, but then, they would pooh-pooh the investor alerts too. And when a company goes far out of its way not to reveal what all it's actually doing, it is generally up to no good.


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Customer: replied 4 years ago.
Hi,
Thanks for the reply. I agree with you and i too believe they are fishy. but these assumptions/believes wont change the mind of others. how can i get some hard and sharp proof so that i can stop my nearest friends to invest into it.

i got some info: some important links:-

http://www.vgmc.com/about_corporate_governance_executive_board.aspx




Vice President of Public Listing and Investor Relations
Matthew Jacobsen

http://www.legacy.com/obituaries/nyt...88#fbLoggedOut

Vice President of Operations, Exploration, Discovery and Development
Paulo Marcus Nolinski

http://www.kpho.com/story/14792791/s...life-9-15-2010



Could you tell me how true is this information ?

Vice President of the Legal, External Affairs and Compliance Department
Stephan Karl Burke

http://www.iannounce.co.uk/United-Ki...tephen%20Burke
Hi,

Not a one of these sites works for me. Two give me a "bad request" message and the other site has been pulled down.

I can't tell you how to dissuade your friends. They are adults and will make up their own mind. I can't even say that you can't make money out of it. I'm just telliing you that if they've got your money when the Ponzi bottoms out, there is nowhere you can go with that. They are outside of the reach of the international regulatory agencies, and outside of the reach of your law as well.

As far as I'm concerned, I cannot recommend this as an investment.


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