My daughter forwarded to us a link to an article that appeared on the online news site bilyonaryo.com.
It’s about a 25-year old boy from Ateneo de Manila University who enticed his classmates and friends to invest in Bitcoin and other digital currencies to the tune of more than two hundred million pesos. Long story short, his investors lost their money and the boy, named Benjamin, did too. As in all investment pyramids, hundreds, sometimes even thousands believe that they will earn several folds from the money they put in. It always ends in sorrow.
This is exactly what happened to my son. He was lured by three boys to invest in several businesses (maybe non-existent) with the promise of a 10% instant return and every month thereof. He was then encouraged to invite others in. My son’s classmates, friends, got wind of what seemed like a quick and very easy way of earning tons of money so they too jumped in. Those who collected the money from my son and his friends stopped paying them the interest in just a few months. My son, who continued to believe in the promises of the 3 that he would get all his money back including those of his friends, hang on to that promise. He was always told that they regarded my son as their own brother. In the meantime, he was forced to borrow and guarantee the loans thinking that in just a few months, the three guys would eventually pay him back all the money they owed him. This is a movie with a very sad ending. Not only did my son continue to borrow money, but he also continued to believe what they were telling him. Continue investing in them otherwise, my son would not be able to recover his previous investments.
If there’s a high-level budol-budol gang, this could qualify. As if my son was under their spell. He had very high respect for the twin brothers and for his friend Peter. Even when they had already stopped paying my son back, Nyke continued to hang on to their promises. Up to the last minute he was still in denial that they would never pay him back. Until now, he never said anything bad about those three. And as a parent myself, I could only wonder how their parents were also feeling. They must have been dead worried too. We didn’t even run after them. They gave Nyke inches-high bounced checks but we didn’t bother collecting from them. We didn’t sue them. On the contrary, I wished them well. I am a mother too and I wish for their safety and good health.
We always hear and read sad stories similar to these. It’s very common in the Philippines. And even here in the United States, in Italy, in Mexico, Indonesia, Malaysia, etc. people lose their hard-earned money to the promise of earning big bucks quickly without any hard work. The stories only have sad endings.
It’s been six years since we discovered that my son was victimized bigtime. It was a slow recovery process accepting that not all people are good and trustworthy. Not all friends have good intentions. The most difficult part is the emotional and psychological recovery from the trauma.
It’s easy to say when you fall, get up, and hope you don’t fall into the same trap again. But sometimes we commit the same mistakes over again.
And don’t ever think that all your friends are true friends. My son found that out too late. Even until now, the person he thought was his one true friend turned out to be his enemy. Until now, that boy still wanted to collect more money from my son even if he knew that my son was scammed. Even if he knew from the beginning the risks they were all taking. Even if he already got back the total amount. He was still expecting to receive 7% a month interest from my son. It’s sad to think that my son had very high respect for this person. Akala nya best friend nya. Akala ng anak ko mabait at hindi magsisinungaling.
I am sharing our family ordeal with the hope that you, my dear readers, will learn something from my stories. I hope you believe me when I tell you that you could lose all of your money. If you want to go ahead, make sure the money you will part with is something you can afford to lose completely.
No crying, no blaming, no getting mad at yourself, no getting angry at those who collected money from you.