• My Tweets

  • Share This Blog

    Bookmark and Share
  • Enter your email address to follow this blog and receive notifications of new posts by email.

    Join 12 other followers

  • Blog Stats

    • 82,476 hits
  • Advertisements


Salam everyone,
Sorry it’s been awhile. I’ve been down with a fever and just got back to writing something for my blog. Today’s post is about this get rich quick scheme that I have discovered on the CariGold Forums. Its called Novalife a.k.a. SRIISB. SRIISB is an acronym for Sahabat Raja Izuddin Iskandar Shah Berhad.

This company has an interesting plan which you can check out at their website. Click here to see it. They claim to be a company that has RM5million authorized capital and RM1million paid up capital. They also have this “ingenious” plan to part you from your hard earned money. You pay an amount (RM250 I believe) to join their plan and all you have to do is find others who are foolish enough to pay the same amount. Its a pairing/binary system so you have to find at least two others.

People who have joined are all hooked to this plan, especially those who have received bonuses. They do not realize that the money they get is not the result of any gainful economic activity but merely money from those who have joined under them…

I have uncovered several facts and even have proof of the falsity of this company. Here is a Company Search Result from the Companies Commission of Malaysia or SSM. You should be able to see that they do not have a paid up capital of RM1million, in fact it is only RM3000. There are no company statements as of 23.7.2008 which is the most current documents that SSM has on this company.

I’ve brought this fact to the attention of the forumers at CariGold, but their defenders are very convinced that the company is legitimate and even discounting the discrepancies in the SSM results as a late update by SSM.

This company not only lied about its paid up capital, it also lies on its website stating that it was a Koperasi. It clearly is not. It provides its members with small loans and this is illegal. It goes against the Moneylenders Act. Furthermore it also breaches the Banking & Financial Institutions Act for receiving illegal deposits, a topic which I have recently covered.

The forumers also brought something to my attention: they claim that Novalife had a valid AJL or MLM license. After searching the KPDNHEP website, I found no results for SRIISB ever being listed as an AJL licenseholder. Further questioning revealed that SRIISB was using another company’s AJL. These forumers had the gall to jeer me over this fact. I am completely dumbfounded. How could they be confident of a company that lied through its teeth and even claims to use another company’s AJL license. It doesn’t make any sense at all.

I guess their members are too blind to see this program for what it truly is: a Ponzi get rich quick scheme thats sure to fall flat one day. Lately I’ve heard that the company has switched its plan, for what purpose I do not know and no longer care to find out. All I know that this is a scam to get you to part with your money with empty promises of fast money. So get out or stay away from this company!

8 Responses

  1. Helo admin, whatever your remarks…I have earned more than 50k MYR over a month. Thanks to this foolish program…

  2. let’s see what you have to say in a few months time… this scheme is unsustainable. you can’t expect it to keep making money. you know that money is actually your downline’s money… how can you sleep at night knowing you are getting rich from your downline’s money?

  3. keethariq, i totally agree with you. i just came back from a meeting at a mamak stall where a friend of a friend tried to get me to join the program. The program sounded too tempting but also too good to be true. Being an overly sceptical (thank God for that attribute!) I came home and do the research. It just doesn’t add up, and clearly it’s a scam. The saddest part is, there were more than 30 people who came at the mamak stall tonight who wanted to join the biz, and they are all MALAY!! What is it with my race that they always fall for these cheap tricks which probably invented by other people. Wake up my people!!! There’s no such thing as easy money!!!!!!

  4. scam maaaaaa…. why that company scam people… very foolish poorish programme…

  5. don’t play play with money games… let’s play far away from them before your money getting lost in a lot of ammount…

  6. hi there, i just came back home from meeting my friends and they were busy claiming about this MLM business SRIISB.CC.. how to tell them this is all scam/fraud? my friends busy finding downlines..lil a bit stuck here..blur
    anyway selamat hari raya to all my muslim friend..
    maaf zahir batin

  7. hi vijayasri

    let them know that this business has no proper certification. Let them read this page and inform them that this business is just a scam!

  8. salam, i already made nearly 5 figure in this scheme, but now, i find it very irritating beacuse of late payment, price mark up.. so i move to another biz which i think i not a money game, its truly MLM comp with AJL as well. the plan seem like novalife plan, but totally different, if you guys interested to know about this comp.u are welcome to my website: http://mpglobal4us.blogspot.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: