November 24, 2006
Show Me The Money In VoIP - Stocks
If someone offers you stock in an IP communications business, learn everything you can about it, including whether or not it'll make money. Pretty obvious, right? Well a man in Tokyo is suing an "IP phone" (VoIP) company for not telling him and other investors upfront that they might not make any money. The man, 61, invested millions of yen and is suing for 27M yen. He also wants his investment contract cancelled.
Now if I understand the story correctly, there may be some connection between the company, Kinmirai Tsuushin Inc., and the Japanese underground. That's just what VoIP needs, doesn't it? On the other hand, the man did receive just over 8Mln yen in dividends - less than what he put in. But does that sound like organized crime? There are other lawsuits pending against the company, who collected funds from around 1,000 investors. [via Asterisk VoIP News]
Interesting way to make money, but no evidence of wrongdoing, aside from not openly telling investors that returns were not guaranteed. It's certainly better than the two young Americans who were stealing VoIP service from other vendors and resold around ten million minutes worth.
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