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why83

Lecruz Entertainment Ltd -anyone heard before

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Hi ladies,

FH's tried to introduce a investment plan that offer by a company name Lecruz Entertainment Ltd (www.lecruz.com) which he claim the return is marvelous, so FH SAM YUK YUK now, But i got a big doubt about this plan and got a feeling that is it a scam like people said if got such a good thing everyone also rich already lor.

He said this thing is very popular is Penang and Johor, and now only come into Sabah, so i need some advices from all the ladies in this forum who heard about this before, especially from the West. Please share....................

Thanks

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why83 : I've done some searches on the net with regards to the Lecruz and the things that I have found is not so comforting.

For one, the company said that it's been around for quite a while but it's own website was registered only in 2008. So someone has to be lying.

Secondly, this whole thing smells really fishy. You register and they send you to Macau FOC? With gift some more? You don't need to buy or sell anything and you can make money??!! If ever there was a legitimate business that can earn money like that, I'm sure it'll be all over the news by now.

Ask yourself - how does the company make money? They don't sell anything. Who pays them? The casinos? Why would casinos pay anyone to bring in customers in the first place? The casinos already knows that the people will come regardless. Even illegal gambling dens attracts people like bees to honey! And illegal gambling dens don't even advertise!

So where does this lecruz get money to pay their members? The answer could be from the member's 'investment' itself. The newer members pay and the money is used to pay out so-called 'profits' to older members. Going by this logic, it's only a matter of time before the scheme collapses under its own weight. It's called a Ponzi scheme. Go google it up.

The world's largest revealed Ponzi scheme was perpertrated by a Bernard Madoff in the US and he scammed hundreds of high profile Wall Street figures to the tune of USD50 billion!! He offered returns to his so-called 'investments' that is only slightly higher than stock market performance but throughout more than 20 years his investments has never ever seen any negative returns. By offering only moderate returns, he kept his scheme well hidden and that's how it can run for so long.

Keep one simple ground rule in mind : In any kind of investment, there is no guarantee. Money does not come easy. It never comes easy. There's no such thing as high returns or guaranteed returns with low risk. If it sounds too good to be true, then chances are it's a scam.

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daddyo:

thanks for your advice. Im facing the same matter now. Most of my relatives have joined Lecruz Entertainment and asking me to join them in this investment. One of my cousin jz back from the FOC Macau trip, everything seem so real. Actually, what i have heard is that Lecruz is working on lending people money in the casinos, that is why they can make so much money. Legal or not, im not sure ler, but people tend to say ... as long as can get the money...

im so confused and in dilenma now... need further advice or opinions... or any1 else have joined or can provide me further details? realy thanks a lot...

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why83 : I've done some searches on the net with regards to the Lecruz and the things that I have found is not so comforting.

For one, the company said that it's been around for quite a while but it's own website was registered only in 2008. So someone has to be lying.

Secondly, this whole thing smells really fishy. You register and they send you to Macau FOC? With gift some more? You don't need to buy or sell anything and you can make money??!! If ever there was a legitimate business that can earn money like that, I'm sure it'll be all over the news by now.

Ask yourself - how does the company make money? They don't sell anything. Who pays them? The casinos? Why would casinos pay anyone to bring in customers in the first place? The casinos already knows that the people will come regardless. Even illegal gambling dens attracts people like bees to honey! And illegal gambling dens don't even advertise!

So where does this lecruz get money to pay their members? The answer could be from the member's 'investment' itself. The newer members pay and the money is used to pay out so-called 'profits' to older members. Going by this logic, it's only a matter of time before the scheme collapses under its own weight. It's called a Ponzi scheme. Go google it up.

The world's largest revealed Ponzi scheme was perpertrated by a Bernard Madoff in the US and he scammed hundreds of high profile Wall Street figures to the tune of USD50 billion!! He offered returns to his so-called 'investments' that is only slightly higher than stock market performance but throughout more than 20 years his investments has never ever seen any negative returns. By offering only moderate returns, he kept his scheme well hidden and that's how it can run for so long.

Keep one simple ground rule in mind : In any kind of investment, there is no guarantee. Money does not come easy. It never comes easy. There's no such thing as high returns or guaranteed returns with low risk. If it sounds too good to be true, then chances are it's a scam.

Thanks daddyo for sharing, after long consideration FH decided not to take the risk better save up the money for some other expense.

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daddyo:

thanks for your advice. Im facing the same matter now. Most of my relatives have joined Lecruz Entertainment and asking me to join them in this investment. One of my cousin jz back from the FOC Macau trip, everything seem so real. Actually, what i have heard is that Lecruz is working on lending people money in the casinos, that is why they can make so much money. Legal or not, im not sure ler, but people tend to say ... as long as can get the money...

im so confused and in dilenma now... need further advice or opinions... or any1 else have joined or can provide me further details? realy thanks a lot...

SynBabe : Let me ask you a few questions: Is it really true that you don't mind how the money is made? Even if it's illegal? As long as there's money? Does the ends justify the means?

If Lecruz is an illegal loan sharking scheme, do you really want to be a part of that? I believe that in this world, there's a universal law that says, "What goes around, comes around." If you obtain the money via illegal means, the money will probably be gone just as easily as it comes. Or nothing good will come of it. Like Newton's law of motion : For every action, there's an equal and opposite reaction.

The ends never justify the means. If something is illegal, then it's off-limits. If you say that as long as can get the money then would it be safe to say that even if Lecruz takes the members money and buy guns to rob casinos and they distribute the loot as profits, you'll still be okay with it?

Your call.

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Hi everyone,

I am already a member in Le cruz and getting my monthly dividend on time. Anyway just wanted to share with u all abt this business.....

"from what i heard from their business strategy, its not about opening a casino but supply capital to "junket" in casino for rolling chip.

i try to explain in simpler way:

2 types of chip in casino,

1) cash chip = u pay 100, they give 100 chip, u play, if left extra cash chip u can exchange back to cash

2) rolling chip = chip that are not exchangeable to cash unless u play with it and win cash chip back. eg; 100 rolling chip, must gamble all 100 to change back to cash.

benefit for casino? player have to spend all rolling chip to get back cash. so whoever change rolling chip to play, casino will have rebate on the amount exchange, say 2.5% of total amount, of coz there is an mininum amount to change rolling chip. So to get these rolling chip, have to go through "JUNKET".

why junket?

a rebate on rolling chip only can get by huge amount of deposit, say RM20million, so normal player wont change that much. A junket will deposit tat amount and hold stock of rolling chip, and will change to player with lower rebate rate, say 1%, with a minimum amount of coz. junket will earn cash back through the differences, in this case, 2.5 - 1 = 1.5%.

so y us the small timer?

Asking us to invest money in junket to raise its money capital to roll the rolling chip in more casino

hope its clear, this is wat i understand so far :biggrin: "

from the source:

high54ever

http://forum.lowyat.net/topic/1112833

thank you

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dvijay:

2.5% cash rebate from casino.

2.5% - 1% = 1.5% (junket's commission)

Can you explain what is the 1% for? I'm not quite certain.

Also, the company has claimed its existence since more than 20years ago, meaning the 1980s. Some ppl has used WHOIS to track the day of Le Cruz website created. Well, it is not the closest reliable source because to track the company incorporation date, one must go for the company registration cert. Website can be created much later than the date of incorporation.

So what ponders me, is that Le Cruz's claim in its 20 over years existence is not in tandem with its company registration renewal cert and as I've looked thru the cert, it doesn't say its incorporation date. You can login to your lecruz member's page and search for Business Registration. Though their payment is on time, I totally agreed on this one. But what Le Cruz claim, must be accounted to members like us.

Pls let me know what you think. Also, feel free to contact me. "Good Things are to be shared!"

Hi everyone,

I am already a member in Le cruz and getting my monthly dividend on time. Anyway just wanted to share with u all abt this business.....

"from what i heard from their business strategy, its not about opening a casino but supply capital to "junket" in casino for rolling chip.

i try to explain in simpler way:

2 types of chip in casino,

1) cash chip = u pay 100, they give 100 chip, u play, if left extra cash chip u can exchange back to cash

2) rolling chip = chip that are not exchangeable to cash unless u play with it and win cash chip back. eg; 100 rolling chip, must gamble all 100 to change back to cash.

benefit for casino? player have to spend all rolling chip to get back cash. so whoever change rolling chip to play, casino will have rebate on the amount exchange, say 2.5% of total amount, of coz there is an mininum amount to change rolling chip. So to get these rolling chip, have to go through "JUNKET".

why junket?

a rebate on rolling chip only can get by huge amount of deposit, say RM20million, so normal player wont change that much. A junket will deposit tat amount and hold stock of rolling chip, and will change to player with lower rebate rate, say 1%, with a minimum amount of coz. junket will earn cash back through the differences, in this case, 2.5 - 1 = 1.5%.

so y us the small timer?

Asking us to invest money in junket to raise its money capital to roll the rolling chip in more casino

hope its clear, this is wat i understand so far :biggrin: "

from the source:

high54ever

http://forum.lowyat.net/topic/1112833

thank you

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Junkets?? Earn commission from the balance in exchanging with players for a lower percentage? All sounds pretty good and legit but that's also what Charles Ponzi told his 'investors'. That he earns from the currency exchange of international stamp reply coupons. Buy at lower currency countries and sell in higher currency countries. Didn't stop him from scamming all his hapless 'investors'.

To each his own, I say. There's no easy money in this world. If you believe that there is, then I say good luck to you. And to dvijay - You got your source from another forum? How reliable is that?

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I agree with daddyo. In fact, when it is too good to be true, it is probably not true. In fact, I had personally emailed Bank Negara Malaysia(BNM) and Security Commission(SC) to check with them. Both organization replied me that Le Cruz is not licensed to carry out activities or even offer services in Malaysia that relate to securities or the provision of investment advice or fund management relating to securities.

Below is quoted from the reply of BNM officer:

We refer to your e-mail on the above matter.

We would like to inform you that the company indicated in your e-mail, Le Cruz is not licensed by Bank Negara Malaysia (BNM) to offer any financial services or products.

We would like to caution you that if the investment scheme clearly offers an investment opportunity by collecting deposits from the public and investors are promised investment returns within a certain period of time, whereby the original investment will be refunded, it maybe contravene Section 25(1) Banking And Financial Institutions Act 1989 (BAFIA). This investment activity is against the law and you are investing at your own risk. Please invest with licensed financial institutions only.

An easy way to identify and verify whether or not a company is licensed by BNM, you can refer to the licensed institutions list on our website by following this URL:

If the company is NOT LISTED on our list on the website, it simply means that the company is NOT LICENSED NOR APPROVED by BNM to offer any financial services or products.

You may also cross check with Securities Commission's licensed/alert lists on their website :

1.

2.

3.

If you have any information pertaining to illegal deposit taking activities or illegal foreign currency dealings or a victim of such activities or scams you can send details of such information or complaint together with the documents to BNM as follows:

Unit Penyiasatan Khas

Bank Negara Malaysia

Jalan Dato' Onn

50480 Kuala Lumpur

Fax: 03-26987467

Tel.: 03-26985708 / 03-26985724 / 03-26985776 / 03-26985785

Please be guided accordingly.

Clare Sim

BNMTELELINK

Bank Negara Malaysia

No Tel : 1-300-88-5465

No Faks : 03-21741515

Email :

This one is the reply from SC:

We refer to your email relating to the above matter and thank you for the information provided.

Please be informed that this company is not licensed by the Securities Commission (SC). As such, they are not authorized to carry out activities or even offer services in Malaysia that relate to securities or the provision of investment advice or fund management relating to securities.

A list of activities regulated by the SC can be found in Schedule 2 of the Capital Markets and Services Act 2007, which can be accessed on the following link:
.

You are also advised to refer to the SC's list of licensed intermediaries, which is available on the SC website by clicking
.

Investors are reminded to always be vigilant and responsible and give due consideration before making any investment choices and personal investments. This can include verifying whether the company or individual is licensed to carry out or offer services relating to securities, licensed to provide investment advice or deal in securities. The public is advised to invest only in companies licensed and authorised by the SC. The list of companies and individuals licensed by the SC to carry out investment activities can be found at the SC's website,
.

Should our review of the activities carried out by the company shows a breach of the securities law, we will take the necessary action. Please contact me or any of my colleagues at 03-6204 8999 should you need further clarification or have further information to submit.

Thank you.

Yours faithfully,

Wan Normajidah

Investor Affairs and Complaints

I hope these two emails from BNM and SC respectively are enough to convince those who had invested or who are considering investing to be cautious in betting their money in this scheme. This is not to say that you will not make money initially, but there are so many legitimate investment tools in the market, which are well regulated by the government to protect the investors interest, why would one go for something not regulated and not play by the rules? If you had invested in the scheme, my advise is to keep all the documentations, contracts, evidence, and keep praying that the scheme will not bust before you manage to get all your money back. While waiting for that to happen, please do not try to get more of your friends or relatives into this anymore as you never know when they may become the victims. You definitely do not want to be their up-line when the scheme bust!

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daddyo:

thanks for your advice. Im facing the same matter now. Most of my relatives have joined Lecruz Entertainment and asking me to join them in this investment. One of my cousin jz back from the FOC Macau trip, everything seem so real. Actually, what i have heard is that Lecruz is working on lending people money in the casinos, that is why they can make so much money. Legal or not, im not sure ler, but people tend to say ... as long as can get the money...

im so confused and in dilenma now... need further advice or opinions... or any1 else have joined or can provide me further details? realy thanks a lot...

if they're involved in illegal business...you need to ask yourself only 1 question. If they don't want to pay, is there anything you can do to collect your money back? :)

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