He was my coworker. I know him at work for years. It is unlikely he take money and run away.

He ask me a loan to scale up his business, promised to pay 15% annually.

His work is in manufactures industry, maybe B2B. He said he his business don’t depend on number of customer available. I don’t know. I am a salary man. I know nothing about business and investment.

I haven’t ask him into the detail yet. I know nothing about this type of business. He seem confident, but I feel the 15% is so unlikely that will come with (hidden) risk. Maybe my friend is also a victim of another scam, or he just overconfident.

People of Lemmy, I ask you, those who are investor and business owner: is >= 15% annually ROI possible ?

  • Björn Tantau@swg-empire.de
    1·
    8 months ago

    Get it in writing.

    But yeah, it’s sketchy as fuck. If he could guarantee that ROI he could just go to a bank.

    If you can afford to lose the money and maybe tolerate a lengthy trial go for it. Personally I couldn’t.

  • edric@lemm.eeEnglish
    1·
    8 months ago

    his business don’t depend on number of customer available

    Clarify this with them. If the business does not depend on customers and selling a product/service to them, then it’s most likely a pyramid scheme/MLM. If he continues to be vague about what exactly the business is, that’s another red flag. A legit business shouldn’t be hard to explain, especially to people they want to ask for investment from.

  • redballooon@lemm.ee
    1·
    8 months ago
    • Ex coworker
    • Seemingly Great roi.

    That smells like a pyramid scheme from miles away.

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    11·
    6 months ago

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