This adage has been there for a long time and aside from "Don't invest all your eggs in one basket" is probably equivalent to the ABC of investing. So when I saw the following comment from an irate investor who was hoodwinked as part of this huge scam , I did not know whether to pity this person or to just be angry and yell "What were you thinking?". Haven't you seen enough movies where this theme has been beaten to death!
"About Rs 10 lakhs that I had invested went down the drain. The firm said that one can withdraw the returns on a monthly basis, and also that the money invested will double in just 6-months. I never thought we were being fooled," says Mythili an investor.
Hoodwinkers would be around as long as you are willing to be hoodwinked.