Business Networking Scam Hits Shanghai

By On May 20, 2008 · 7 Comments

This strays a bit from our usual Mingtiandi vein, but I just received a scam appeal to entrepreneurs that I thought might be worth warning folks about.

I received two emails inviting me to an “Exclusive business breakfast meeting by invitation only!” from something cheesily called the “XL Results Foundation.”

It seems this foundation is a bogus business networking scheme that bilks would-be entrepreneurs for membership money while providing them with non-existent training and networking opportunities. And I thought those dodgy financial consultants were bad! You can find out how the scam works from this posting on ripoffreport.com and this Australian report from Perth.

In the mail, the XL Foundation describes itself as, “the world’s leading entrepreneur and social enterprise network.” But offers no grounds for this assertion. These tricksters from Singapore further assert that their ringleader will, “explain how Businessmen and Entrepreneurs can take advantage of emerging Business Opportunities in Asia-Pacific Region.” Evidently the secret to taking advantage of opportunities is tO cOmpletely Ignore all standards reGarding Capitalisation. and the grammar.

It seems this pyramid scam has already made the rounds in Singapore, Indonesia and Australia and is now hoping to take advantage of the overly optimistic crowding the streets of Shanghai.

If you get this same email as I did, just toss it in the bin and save your business cards for the next Chamber of Commerce meeting.

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  5. Nail the Filing
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7 Responses to Business Networking Scam Hits Shanghai

  1. flora says:
    June 4, 2008 at 4:22 pm

    Thanks for visiting my blog and contributing this update. Roger Hamilton is certainly assiduous in his quest for more funds. You could still go along and ask some awkward questions: the breakfast was excellent when I attended.

    I like the photo!

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  6. Traveling Pyramid Scheme hits US - ScamFraudAlert says:
    September 28, 2008 at 7:11 pm

    [...] Time:7:00pm Further information can be found on: DMS Facets: Shonky Operator THE BIZOP NEWS Ripoff artist comes to Shanghai | Mingtiandi XL Results Foundation | Blog for Profit: Make Money from Websites and Blogging at Home for Wealth [...]

  7. MikeJ says:
    December 28, 2008 at 1:09 am

    Consumer Update – XL Results Foundation collapse.

    The XL Results Foundation Head Office in Singapore has closed down.

    Address: 30 Robinson Road, #02-01, Robinson Towers, SINGAPORE 048546.

    Victims of Ponzi Scheme operator Roger Hamilton and the XL Results Foundation scam are advised to contact the Consumer Affairs Department and/or Department of Fair Trade in their respective country.

    XL Results Foundation Pte Ltd is owned by a holding company incorporated to a PO Box address in the Republic of Seychelles.

    Company Secretary, MARGARET LOH CHUI MEI, 10 Anson Road, #21-07, International Plaza, SINGAPORE 079903.

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