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170% return in 2 years - is this genuine??

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stebaker
stebaker Posts: 3 Newbie
edited 13 April 2010 at 11:35AM in Savings & investments
Dear All,

"A Secure Investment Into A Government Backed Scheme",
"170% Returns over 2 years",

Product is called "Obelisk" - google: "Obelisk, new product" and click first non-sponsored reslut.

Can we really afford to miss this opportunity? That is of course, if you are lucky enough to have a spare 200k to invest for 1 year...

It ceratinly sounds great, but I would really appreciate any source information on who these guys are at Obelisk, and what this investment involves.

Best regards

Steve
«13

Comments

  • Antispam
    Antispam Posts: 6,636 Forumite
    1,000 Posts Combo Breaker
    A fool has his money are soon parted
  • OneADay
    OneADay Posts: 9,031 Forumite
    1,000 Posts Combo Breaker
    You mean this http://www.obeliskinternational.com/
    Ukraine property?

    I would rather buy a hamster!
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    Google turns this up:
    http://www.obeliskinvestmentproperty.com/

    If it sounds too good to be true, it usually is.

    I wouldn't touch it with somebody elses bargepole.
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • Grimbal
    Grimbal Posts: 2,334 Forumite
    Part of the Furniture Combo Breaker
    Interesting to note that it was the first message posted by the OP......
    "Science is a wonderful thing if one does not have to earn one's living at it" Einstein 1951
  • stebaker
    stebaker Posts: 3 Newbie
    Hey all, thanks for replies, I guess I deserve the responses... although I am just an average bloke who probably signed up for too many email alerts! I have no association with the product - and I certainly don't have the 200k to spare!! If it really is government backed, then I was contemplating pooling investments with a few mates.

    It doesn't look very official, but I was just wondering if there is any expert advice out there rather than just opinions (which of course are all appreciated!!!)

    Cheers all

    Steve
  • Jonbvn
    Jonbvn Posts: 5,562 Forumite
    Part of the Furniture 1,000 Posts
    stebaker wrote: »
    It doesn't look very official, but I was just wondering if there is any expert advice out there rather than just opinions (which of course are all appreciated!!!)

    This is the t'internet where everyone's an expert!;)

    Seriously, they are completely unregulated located outside the UK (how could you sue them?) and as such you will most likely lose every penny you invest.
    In case you hadn't already worked it out - the entire global financial system is predicated on the assumption that you're an idiot:cool:
  • Antispam
    Antispam Posts: 6,636 Forumite
    1,000 Posts Combo Breaker
    You dont always need to be a expert and anyone can set up a bogus web site and spout of any dubious claims they get to scam people. Not saying its the case here but often the saying goes, if its too good to be true if often is

    The claims for government backed and huge financial gains seem to fit the case here that its too good to be true
  • dunstonh
    dunstonh Posts: 119,662 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    "A Secure Investment Into A Government Backed Scheme",

    Which Government? Zimbabwe perhaps? ;)
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • tradetime
    tradetime Posts: 3,200 Forumite
    dunstonh wrote: »
    Which Government? Zimbabwe perhaps? ;)
    Exactly.
    To the OP, "Government backed" is not a magic phrase, you then have to look at the quality of the government providing the backing. If a government is unable to honor its obligations, then it defaults just like anyone else.
    Hope for the best.....Plan for the worst!

    "Never in the history of the world has there been a situation so bad that the government can't make it worse." Unknown
  • topgearfan08
    topgearfan08 Posts: 196 Forumite
    Part of the Furniture 100 Posts Combo Breaker
    If something seems too good to be true, then it probably is...

    A better "investment" would be putting all on 'Black'...
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