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Maybe I’m wrong, but I really don’t think so

Ramit Sethi

Jam writes:

i’ve been approached by a colleague to think about investing in abbfund.com.

i’m not very good at this sorta thing. Never invested before and all that.

i would very much appreciate your feedback on what you think about this setup.

I write back:

i looked at the site for 2 seconds and searched “abbfund” on google, and i wouldn’t go near it

I dunno, maybe it’s the HUGE CAPITALS about the REFERRAL SYSTEM or PAY-4 PROFIT SYSTEM (it really says that) that makes me wary. What do I know, though.

PS–Please kill me if one of my iwillteachyoutoberich readers signs up for something like this

Related: I Hate Indian Network Marketers So Much

[Update]: I doubt this is related, but the URL abbfund.com stopped responding about 24 hours after posting this

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26 Comments

 
  1. Katie

    “What do I know, though.”

    Unfinished sentence?

  2. Ryan

    This post is bad for abbfund.com – what a heist. I just reported them to verisign for misuse of the seal. We’ll see what happens.

  3. sasha

    that reminds me a bit of this: http://www.googleityoumoron.com/
    a bit brusque, but a rather reasonable point…

    (full disclosure: purely coincidentally, i work at google =))

  4. S

    Run away from this as fast as you can! I tried to decipher the “modules” and read the fine print on stuff, but gave up. There are too many clear, open and above-board ways to invest to get mixed up with this group.

    It was even scarier when I Googled the company. Not one respectable money Web site had a profile on it.

    Ramit, you’ll be glad to note that the “sign-up” link does not work on the front page. Maybe we should all take that hint.

  5. Nagel

    I agree–stay away from that.

    For so investing tips try:
    http://finance.webaplex.com

  6. Daniel Lee

    I read the books Rich Dad and “Cashflow Quadrant (rich dad part 2)” because they were featured on my beloved PBS. Here in Seattle, we have three PBS channels.

    Anyway, I’m sure most readers here have a fair amount of contempt for R. Kiyosaki. In Cashflow Quadrant, he very briefly, but surely mentioned “network marketing” and identified himself as a proponent of it. Ugh!

    Bad PBS!!! How the heck did a guy like that get on PBS?

  7. Hoo

    Looks like one of those autosurf scams:

    12dailypro?
    http://www.sec.gov/investor/pubs/autosurf.htm

  8. Harm

    “Googleityoumoron”, rotfl….
    run away from this site,
    I’d agree

  9. James

    How do I invest into the ABBFUND program?

    “Please refer to your club organization policy to obtain permession in order to join the program. Without club member refer ID, your are not quarified to join the program.”

    from their FAQ…man, even if you DON’T google, their own site gives you reasons enough to not trust it.

  10. Jonathan

    Yeah, I’ve researched and even tried a program like this before. They’re practically all scams. Stay away.

  11. Anonymous

    “In Cashflow Quadrant, he very briefly, but surely mentioned “network marketing” and identified himself as a proponent of it. Ugh!”

    Of course he mentioned them, his RDPD book only started well when an MLM company started recommending it to their associates in brainwashi – I mean, educating them. So, he feels indebted to network marketing.

  12. Abb investor

    I don’t think anyone of you knows how to invest abbfund so you all claimed it’s a scam.

    I invested in abbfund. In fact, I even got my money back in just 43 days.

    If you don’t know it, just shut up. Don’t pretend that you know it and act smart. If you are interested to make money, look for me, otherwise no point to discuss with people who only says “it’s a scam”.

  13. Tim Grahl

    But Ramit… I got this email saying a stock was about to go through the roof… doesn’t that mean I should buy it asap???

  14. patrick

    The key difference with your site is the ‘teach’ part. A good rule of thumb is if something claims it WILL make you rich, run away.

  15. MM

    “I don’t think anyone of you knows how to invest abbfund so you all claimed it’s a scam. ”

    Hahaha. So tell us.

  16. John Steele

    1. Ramit, you are giving ABBFund too much airtime. I think the guy who sent you the first email already got he wanted. For all we know, he could be the owner/founder of ABBFund.

    2. I sent the customer service at ABBFund this comment:

    Hello,
    Can I have your bank account number so I can transfer money to start my account immediately?

    Is there a maximum amount for the account? I am thinking about starting with $1,000,000.

    Hope that’s sufficient.

    Do you also have an ABBFund Foundation? I am thinking about donating another $1,000,000.

    I don’t mind if the donated money goes directly to the owner of this awesome site.

    He deserves it.

    Thank you and I’m looking forward to your response.
    John

  17. mamat

    ABBFUNG website is gone. The site cannot be found.

  18. embuns

    i am definately agreed with you all bout abbfund. i do invested in this program but dunno how long it will survive. so so good. hey guys, temporary website for abbfund is http://abfund.mine.nu

  19. Arc_chilla

    As far as ive heard,this hyip program somehow a worldwide program.but never had Ive seen any foreigner invested in this fund.Is it only published in Malaysia only??And the age of this prog is so green.that is suspicous…i will try investing but with a Safe investment method.Dont want to lost much..

  20. kapla

    today, i open the abfund website for many times but they are no response. they said it is upgrading thier system. until mow, i can;t open it. what is the hell actually happen to abfund????

  21. William John

    Back in Malaysia the security commission dept had sealed this abfund web page. Meaning closed-erased. There goes all u suckers who wanted quick money. Sorry gals n guys it just a mistake to have invested here.

  22. jacqueline

    is that abfund stopped working??

  23. Charles

    Investers, Trust me. Whoever says they made money in abfund only cheated thier own friends. They only collected money being transfered to thier accounts by own friends or internet investers. Nobody collected their money by transfereing their abfund points to their banks. I hv invested in abfund n till now i only see my investment grow on the investment chart. but i can,t draw it out without collecting cash from another new invester n transfering my points to them. If i do that, then its not a clean investment made by abfund. Pls hold to ur heart n say that this abfund is a scam n god bless u.

  24. jeb

    It doesn’t matter to invest to have a little bit of fun while we are still living. if it give us profit that good, nothing to fear to try luck. People goes clubing also spend hell lot of money, what return do they get? Love? Peace? Joy? god known. so just hope Malaysia Security Comm don’t just block this web site, it is much better to block all those prono web right.

  25. E K Neo

    Yes indeed abfund must be a scam. I have invested quite abit in it and their website has disappeared now. All the upline people pretend nothing have happened, they just kept mum about the issue. I guess my money is gone for good. It appears that melayu is boleh, the others are swisscash fund, and esuissefund where the Datuks are caught for operating these scam. I hope the abfund people will be caught as well. Such scams occurring really put one off re any investments or tradings throught the net even though they are not scamers. How can one trust anymore postings or advertisements at any website?

  26. yani

    yuppp… i lost my money too n now the w/site is closed..