In light of recent events within the casino gaming industry, the public is hereby advised to exercise caution about the dangers of casino financing, especially the junket operations within the Philippines.
Casino Financing is a colloquial term used to describe overly risky investment or trades. This type of investing is akin to gambling, where investors hope to hit the proverbial lottery with their investments.
These investments often refer to large "bets" that are typically high risk, with an anticipated high potential reward outcome. However, as with betting at a casino, the investor could lose it all.
An example of a common scheme is that a scam operator and their agents will claim that a casino granted them VIP rooms or junket arrangements, and that they need to raise money to do casino financing for their VIP guests from any foreign country.
Investors then place money, sign contracts of loan for a lock-in period of twelve (12) months or more, and get postdated checks. This is a kind of Ponzi scheme wherein the money of the new investors is used to pay off the investments of the earlier investors.
