Beware: Don’t Send Money Through Western Union To Chinese Suppliers!

June 13, 2009 by MyOrbit · 1 Comment
Filed under: Business, Employment, Internet, Money & Finance, People, Sales & Marketing, Uncategorized, electronics 

Question: I have found an electronic product (Laptop) that a Chinese company is selling on Alibaba.com. They are not accepting PayPal and want payment by Western Union. Is it safe?

Answer: No. It is not safe! Please dump this seller ASAP because it is most likely fraud. A vast majority of Chinese companies operating on Alibaba (and other such sites) are fraud. We have learned this from first hand experience. They are waiting to steal your money, and Western Union is the best way for them because they can vanish after receiving your money.

While we can’t blame Western Union entirely for it, we think that Western Union does not mind such fraud. Otherwise, why do they allow people/companies to operate accounts from China even after their names are listed as scam all over the web?

So yes, it is very risky if you are sending money to people that you do not know. With Western Union, there is no way to guarantee that the receiver will send you the good.
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Satyam Executives did Insider Trading?

January 9, 2009 by MyOrbit · 1 Comment
Filed under: Business, Money & Finance 

If the interim CEO offloaded shares in Sep’08, he has done insider trading… and he can’t be trusted to run the company. The entire management of Satyam has been involved in the crime. Every news is adding more support to it. They have been fooling investors, and they need to be jail now.

http://timesofindia.indiatimes.com/articleshow/3955750.cms

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