News Beware: This pyramid scheme targets OFWs money, members required...

Beware: This pyramid scheme targets OFWs money, members required to pay P136,000

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Overseas Filipino workers (OFWs) are now being targetted by a pyramid scheme company that requires them to pay as high as P136,000 or AED10,204 as claimed by a netizen. 

A Redditor posted on subreddit r/phinvest that BHIP Philippines is now targetting OFW’s money by urging them to invest not knowing it’s a pyramid scam. 

SCAM ALERT! BHIP Philippines is now targetting OFW money from r/phinvest

“The cost to become a member of this financial scam is P87,000 if you pay in cash or up to P136,000 if you use your credit card and convert the balance of P87,000 to a 36-month installment payment scheme,” u/Knowledge_protector wrote. 

The Reddit user posted the following benefits after paying the amount: 

1. Your personal website which you can use to attract people and recruit them to get like P2,500 for each individual who will pay the price to become a member.

2. Scripts used to reach out to the cold market and make them attend online seminars which cost P50 (previously P500 when they still pay for rent and electricity in the old building of National Life Insurance beside SGV in Ayala Ave, Makati City). I highly doubt they pay taxes due on this income.

3. Support in making fake Facebook accounts to attract people and invite them to seminars.

4. Regular working groups – where they force attendees to come up with ways (even illegal ways) to get the sum of money.

5. Products – unfortunately. They still have no products as they have no warehouse yet to store the products. In the case of my friend, he became a member last September, he got no products. Just a promise that in 2019, the company will be fully launched and the products will come by that time.

According to her, BHIP Philippines is not officially launched in the Philippines. 

“2018, they promised as mentioned by members who got scammed as well. Nothing happened in that year. 2019, promised but didn’t happen. 2020 is a blur for BHIP Philippines,” she continued. 

With the amount of money, one can already invest in stocks. 

“OFWs work hard for the money that they send home to their loved ones. I’ve been an OFW before and although it was just for a short time, I know what it is like to work in a foreign country. It’s not easy and you need to make a lot of sacrifices in order to convince your employer to keep you. I care for OFWs and Filipinos who work on legitimate jobs so please help share information about BHIP Philippines’ fraudulent business in order to protect our income,” she further added. 

One Filipino overseas commented on her post, saying that one of her aunts applied for the same pyramid scam last week and was promised seven times profit from her P130,000 investment. 

Many pyramid scheme businesses have been seen increasing during the lockdown period as the majority of people stay at home and no income. 

In a separate post by u/windings123 a year ago, she warned the members of r/Philippines subreddit about the same pyramid scheme that she almost got into. 

Bhip Philippines: Beware of this new pyramid scheme company from r/Philippines

Other posts about BHIP Philippines:

BEWARE: BHIP Philippines Fake Job Postings from r/Philippines
BHIP Philippines is now targetting OFWs from r/Philippines
BHIP Philippines, now inviting participants via Zoom from r/Philippines
Founder of MLM company, BHIP Philippines, is putting IG ads for recruitment on the guise of a job offer. Beware. from r/Philippines
The abominable bHIP Philippines is at it again. (MLM Pyramid Networking Scam) from r/phinvest
SCAM ALERT: Bhip One! Help me get the attention of SEC from r/Philippines
Read Sy Ren Na's answer to Is bHIP Philippines an immoral Pyramid Scheme? on Quora

Ryan Namia
Ryan Namia spends most of his days reading over drafts of new written content and determining which ones make the final cut for online and print publication. He received his Bachelor's degree in Journalism in 2015 and has been writing since 2016. Got story to tell? Email him at eic@theglobalfilipinomagazine.com.

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