Beware of E Barrel

Don't Invest In Internet Investment Schemes

by kilamxx

The Malaysian National Fatwa Council has finally announced that it is forbidden for Muslims to invest in internet share schemes which promise fixed high returns. As reported in the Star (13 April 2007) :-

KUALA TERENGGANU: The National Fatwa Council has ruled that any form of share investment through the Internet that promises a steady profit is haram (forbidden) because of the elements of riba (interest) and gharar (chance).

In passing the fatwa (edict) yesterday, council chairman Prof Datuk Dr Abdul Shukor Husin advised Muslims who dabbled in shares on the Internet, such as the Swiss Cash Mutual Fund, to withdraw their money.

There were many alternative investments based on Islamic principles, which they could participate in, he said after chairing the 77th National Fawta Council meeting here yesterday.

The fatwa has been long overdue, with more than 500,000 Muslims already involved in various internet investment schemes like SwissCash, BuyEbarrel and ABBFund (Utusan Malaysia13 April 2007).

Various Shariah experts have already elaborated on the haram elements in these types of investment, among them being Ustaz Zaharuddin Abdul Rahman at Zaharuddin.net.
An in-depth article(in Bahasa Malaysia) can be found here.

Beside the above mentioned names there are more than fifty other get rich quick schemes which use the convenience provided by the internet to lure victims to invest in the various plans they offer. Among others are www.WinliFund.com; www.empay.com; www.buyebarrel.us; www.eaindex.com; www.fical.us; www.GlobalForex.us; www.Arabic.com; www.eracapital.com; www.e-investpro.com; www.GG-trade.com and www.smartindex.net.

I would like to represent an excellent piece on a typical internet get rich quick investment scheme written by Exiang on his Exiang Blog.

Beware of E Barrel

Another pyramid scheme. The first time i heard of it is during December 2006 during my trip to Bentong Thailand. An uncle, obviously a rich boss is telling it to everyone on the bus.

The second time i heard bout it is during CNY, where my gf bro told me bout this. I shoot his mouth off.

Third time, i heard bout it from a friend of mine, that is around End of March.

I made a search to the domain name: http://whois.domaintools.com/buyebarrel.us, found the following facts:

1) The server is located in Hong Kong
2) The registrar is located in Singapore
3) The server is hosted by Kartz Global, world famous anonymous hosting company

Now, let me explain idea that i have gotten from this 3 facts

If I am the founder of Ebarrel, i would love to setup my server in hong kong mainly bcs of my target market of the huge population of chinese people in China. There is another fact: everyone that doing MLM is targeting China market as well.

Register my domain name in singapore could be a way to hide my real identity. I am definitely not an American.

Using anonymous hosting is more suspicious! Why would a International company wanted to hide his own real identity?

Conclusion, this is very obvious that EBarrel is not making money from investing in oil and energy. They are making money from the money you give to them for investment.

How it works?

I hav a sum of money as start cash, probably none too
Then i spread the news out
I just need 2-3 curious and yet greedy ppl to join
Then, i giv them the money as promise

Normally these ppl wont put 1000k directly
at starting, they will try with 100
but it's ok, nvm, coz at the starting I dont have such large amount of pay out capital too

I pay them money day by day
it is tempting and believing

After 3 months, they get back 100 + profit
Now, they will be greedy
i will be sure they will put the 100+profit back
some even add more money to reach 3% per day (different plan have different return rate, that is to encourage people to put in more money)

ok. they will spread around the news too
so my group of income growth

Last, all i need to do is let it expands... up to a point where it is impossible to cover anymore
i will close this company!
by tat time, i will be damm rich
and lots of late joiner will die

p/s: some of the big boss willing to invest big money into it bcs they think they will beable to quit before the company shut down