some lessons are worth 100, 000 pesos

I used to be an undocumented Filipino worker in Japan. Part of the money I earned was placed to what I thought was a sound investment vehicle. Now, that investment is gone. Worse, it turned out to be a billion peso scam. Here is a look back how things started, materialized and ended.

The Investment

When I have money to burn, it usually ends up being totally spent to trivial things. When I first heard of the investment, it definitely appeared to be a better compared to my unchecked spending habits. How about earning a guaranteed 4 - 5 % interest? The business appeared legitimate because the money is said to be invested in foreign exchange, the company is operating reputably for at least 3 years, and the contact person having been a schoolmate appears trustworthy to me. After considering these things, I invested.

Passive Income Enjoyed

Well, I do not have the required minimum initial cash lay-out. My good friend, Alex, allowed me to ride with his investment. I started with 25, 000 two years ago. The income is not much but beyond what savings in a bank could offer. And the checks, issued from my good friend's personal account, virtually became my paycheck as I wait my next departure. After each trip to the land of the rising sun, I set aside some savings to increase my investment. Until January of this year, - my fifth time to invest - I was able to come up with 100, 000.

Counting the chicks before the egg hatches

And so I felt, I am financially good. I can pursue a new career. Earn little for my allowance and the income from my investment will take care of my household contributions until I am able to either land a new job or be able to return to Japan yet again. But I was so wrong.

All good things never last

Some weeks back, before the sad news came out, Alex informed me that the company's president ran away with the company's money. And that our investment is in trouble. I was shocked and was troubled by the impending loss. Since he is abroad and he is the one in contact with the company, I, as calmly as possible, told him that I would wait for him, and when he returns, we will immediately talk about our next course of action.

Some two or three days later, the sad news broke out. According to the news, our contact in the company, our trusted schoolmate, is in danger of being filed a suit. Aside from that, there was a break-in at his house by angry investors. I pity him, his family and I pity the angry investors who may have done that to recover their losses.

But at the same time, he should face the responsibility of answering the just demands of all investors including me. My good friend Alex will be back soon. And we will seek him out soon

The Aftermath

Yes, I am disappointed but I can not find within me to be angry to anyone for this predicament. Investors, as I consider myself to be one, really lose money.

What bothers me is that I became part of a scam because I convinced my girlfriend to also invest. And that I never really exerted any effort to find out how my money earned interest. The only thing I was concerned about is encashing the returns.

When I let others take care of things such as this investments, I have decided to put things beyond my control. Therefore, I am also at fault.

There is still a tiny drop of hope in me, that I can recover some of my investment. And that some other positive things will come out of this sad experience of my life.

Besides, I know I can earn the same amount anew or even more. But I doubt if I can trust any investment anymore.