Selling investment schemes to fellow SHC members is not allowed

It has come to my attention that some members of the Club are offering investment schemes to fellow members.  These members attend Club events and try to convince fellow members the benefits and rewards from investing in these schemes.

I am also aware that these members have misrepresented themselves as founding members of SilverHairsClub. SHC has been around for the last 11 years and founding members are well documented in the Club history.

This post serves to inform fellow members and those who are offering investment schemes that SHC does not allow the selling of these services in Club gatherings.  

If it should come to my attention again that these members continue to sell investment products or schemes within Club activities, the member involved will be taken off the Club membership immediately.

Please do take note.  SHC will continue to serve as a platform for SilverHairs to meet and make new friends.

Terence Seah

19 thoughts on “Selling investment schemes to fellow SHC members is not allowed

  1. I believed that this members joined SHC out of self-interest rather than be actively involved in the Club’s activities and real fellowships. Their intentions are to kill “2 birds with 1 stone”. We cannot stop them so easily without knowing their intentions behind. The only way is for members to be more vigilant in dealing with such other members who go around talking about subjects on money making especially during “coffee talks” or walks. Some of them can be very persistence with the approach and will try and try to win them over.

    As SHC members, we should abide by the R & R laid down by Terence Seah and keep this Club strictly for fellowships among Seniors. Please do not go around “selling” your products here. If you need to, find other sources and try not to “harass” your fellow SHCians. Thank you.

  2. Well said, Danny.
    We must be vigilant of such people around us and don’t get fooled easily.
    Best always to consult our family members or close friends before making any hasty decisions. If necessary, report these people to SHC Admin immediately.
    Cheers, winnie

  3. wow wow , totally agree this is real pain in de ass lah….

    well said bro dan !!! if we dont put a STOP now hor , then more MLM will oso slowly crawl in ya…..hohhohoohoho hahahahaha
    cheers bro sam goh.

  4. This is my personal suggestion.
    1. Expose those who misrepresent themselves as founding members
    2. These shameless character will likely misrepresent in selling their products, may be we shall collect evidences and report them to the authority.


  5. I am quite amused by the responses to this post, in particular the anger and fury demonstrated by some. First of all, I declare that I do not sell any scheme or anything. I am not a good salesman.

    I am challenging some comments here out of sheer common sense and reasonableness.

    When several mentally-sound and able-bodied adults meet, each at half a century old or more, why do we restrict them on what they can say?
    Not even a school, a university or a workplace dictates what people should and should not talk about once outside its premises. Indeed, the law takes over if there are criminal intents. I am not sure if “misrepresenting” a SHC founder member constitutes to a criminal intent.

    What embarrassment or shame does SHC suffer when a member tries to sell something to a fellow member? Legally speaking, what liability must the “Club” bear when a member declares that he has lost money as a result of making friends in SHC?

    If it is for the sake of the “victims”, don’t they know how to look after themselves? They are not vulnerable kids. Anyone can simply walk away if he is not comfortable with a conversation-topic, be it MLM, politics, religion or sex. Must he cry out loud to anyone to seek protection?

    Of course, if it is the Club rule set by our Chief, we shall have to abide by it, never mind its objective and effectiveness.


    • Hi DanielC,

      I think you miss the point. No one or the Club is preventing any member from speaking or discussing what he/she likes during Club activities.

      Point 1: When a member joins the Club, he/she agrees to accept the Club taboos. This is very clear. If you are still not clear, please feel free to ask.

      Point 2: Since 2015, the Club’s objective has been to provide a platform for SilverHairs to meet and make new friends. We cannot encourage activities that are anti-Club objective.

      Therefore, I do not see any reason for you to find members views and comments, on this subject, as amusing. I hope you understand why selling investment schemes and products is not allowed during Club activities.

      Terence Seah

  6. Hi Terence,

    Your first paragraph and your Point 1 that follows obviously contradict each other.

    I understand the obhjectives and I know the rules well. What I find amusing is why set rules that are impossible to enforce? .They are at best, empty threats.

    Do you think the alleged MLM pusher has read your post?

    Before you “remove” any member, is he/she entitled to a fair trial? Or do you do it based on “feedback”? Will it be an independent judicial system like the South or omnipotent leadership style like the North?

    When you set a rule on this platform, it must be effective and more importantly, it can be enforced fairly.

    It is easy to agree with everything you say. But is the problem solved?


  7. My pleasure, Terence. Sorry if I appear provocative sometimes.
    Just my style of writing. I will be irresponsible if I simply pass critical remarks without offering a solution. Hence my suggestion to fellow members:….. If in a group gathering, and any person attempts to sell you a “good return” investment, tell him/her politely, “Not now. There are other friends. We need to talk about other things”. If you are interested, then excuse yourself from the group and go somewhere else to continue your business talk. If the pusher is persistent even though you say no, just move to another seat and talk to someone else. No need to be nasty lah…people just doing a job..


  8. Agree with DC points of view

    somehow he seemed to be able to see things/problems from wider perspectives
    He should be elected to be president of club

  9. Daniel Chan,
    If you are not a lecturer as you had claimed to be,I will not have to post my comment.
    All sellers of Any Investment/Financial products are subjected MAS ‘s rules and regulation, M6 specifically disallow any form of misrepresentation.

    If a seller come by to an activity group and approach ” I work for XYZ company, a product I offer may of interest to you , this is my calling card, or perhaps you can let me have your contact , and we discuss at a mutual convenient time ” . This is nesting and is perfectly OK.

    However, if he came by and ” I am the founding member ( of which he is not), I had made so much$$$ by investing in this product and started pushing for a sale,” This is definitely NOT OK. He should be the one to know his limit and not to be told politely as you had mentioned.

    Just for infor, any one trying to offer Investment/Financial product have to produce MAS licence No as printed in his company’s calling card. failing which , he is likely to be a fraudulent offerer.

    I am supportive to anyone making an honest living but not otherwise. so, DC, do you still believe you are offering a so call ” Solution” as a lecturer ?

  10. As we aged some people will hv some memory declined, its because one does not know when d brain gets foggy when bombarded by “sales talk” that one innocently loose their money, so if we know there is such a “salesman” around its good to warn our fellow member and help one another.

    Cheers to all…..

  11. Hihi
    Read w interest re above comments and those trying to ‘hoodwink’ others into buying investment stuff. So far, no one has approached me to try and sell anything to me, be it mlm stuff or investment products. Lol..

    I suppose it takes two to ‘tango’ and if a member approaches you or try to lead you into some talk on doing something against your morals or thinking, just tell the person you’re not interested. Period.

    It’s that simple.

    Im sure seniors (45 and above) have enough wisdom to handle ‘tricksters’. Haha

    Let’s make Shc a platform only for meeting friends …


  12. Interesting discussion above from all.
    I been wondering for years what do members want knowing the ground rules set by the founder and also that this is a platform for meeting new friends.

    Some questions and doubts in my mind.

    1) How many members are there right now be it active or non active ?
    Is it that classified ?
    2) If the objective of these members are to meet new friends, then if only 1% of the members turned up for the coffee talk or monthly gathering, then each such session should be full house. Obviously then meeting new friends do not seem to be the sole objective.
    3) If it is to share or participate in forums, then we would have more views than always the same handful despite once a while our founder throw in topic to stir discussion.
    4) Or is it, it is free so just remain members which I think is a majority of the case.
    Can try a simple experiment by even imposing S$1.00 membership per year or name will be strike off. Believe many will let their membership lapsed.

    But truly, what do members want out of this clubs ? I once asked for a simple on line survey on this.
    All I do know is there should be a size able membership base that marketeer of elderly product can tap to. Then again why so little corporate members want to tap into it.
    Is the club restrictive on this when there is encouragement for corporate member.

    There is this no MLM rule.
    My hypothetical question is
    1) If today Apple decide to sell its iphone through MLM, will it make it an inferior product. Or people would stop buying iphone ?.
    2) E Commerce is a rising trend and another mode of product distribution whereby
    one would need to drive human traffic to it. Will then someone complain and the E Commerce will also be on the banned list.

    All I can observe is some of regulation is self defeatist and also not keeping with time.


    • Hi Leon,

      I shall answer as best as I know.

      1. I don’t know how many members we have because I have not countered but our members always appear once in a while.
      2. Maybe maybe, because of our age group, but many will respond via SMS or WhatsApp. They also do not want to comment on social forums. Maybe because of concern of negative response. It will be nice if someone like yourself can help resolve this fear.
      3. It is not true that many members want to dance and sing. Many just do not want to sing and dance. But we just don’t have enough organisers to organise other events on a social get to know one another basis. I have come to the conclusion that some activities are always successful. Why?
      5. On your idea of $1 membership, this has been discussed many tomes before. Previous discussions indicate this idea won’t work.
      6. It has been very clear that many members join the activities once or twice, and then they bring their new found friends to their own private groups. Look around, here are numerous.
      7. Re MLM, as of now, I have no reason to change the rules, since 2005. Do you?

      Terence Seah

  13. Terence,

    Just to clarify on your reply.

    1) Your administration should be able to counter the registration and sum up the data
    of the membership. Should not be rocket science.
    2) You are right on this one. Many has gone off to form group chat with Wat App and
    are more vocal or open there. There is lot of interactive sharing over there and
    somehow for unspoken reason, people there do not engage in personal attack.
    As for the lack of participation in the forum, you are probably right in your
    observation. It boils down to personality and attitude.
    . And we do know that changing attitude can be more difficult than moving a
    mountain . Can only out in a phrase here on attitude.
    “Attitude is like a flat tyre. Unless you change it, you are not going anywhere”
    3) Dont think I mentioned most people like to sing or dance.
    4) Haha. you confused me. There is no 4th item in your reply
    5) The way I put in my comment that people stayed on probably because of free
    membership mean I am not promoting collecting membership fee. I will be among
    the first to let my membership lapse. :-). Not to mention other members cursing me
    on that 🙂

    6) Agreed. I have invited been into a few of such private group . And most of the
    personalities there are just fun and fantastics .
    7) Re: MLM. You are the founder. I abide by your rules.

    All been said, I have seen improvement in the administration and the better use of the
    IT technology in the hosting. Credit to you, Terence and your admin team.

    To all the new members,
    We can never “out learn or out give the universe” So open up. I go about telling a little story about what is life about ? Though it is a little story, it is still laborious to put into words here. Cyber space is precious to some even if it is relatively free. So I just put in the moral message of the story.

    ” Do not let what you owe or own in this world stop you from pursuing happiness”

    If any one cross path with me in any event, can always remind me to share the story that lead to this message.


  14. To Leon N those not satisfied with Terence’s rule of NO MLM

    MLM is illegal in Singapore and Many countries esp China. This is why
    Big Names like Sun Rising, T Ware, Bellair are gone. Some others like Herbal Life revolve into Channel Marketing to avoid the legal implication .

    Channel distributors are those being sweet talk into , register a company, buy a “Starter Kits” normally less than $100, and repeat the same process to get more friends resulted in many people holding stock at their own risk. This method is similar to a fisher man casting a net into the sea and wait for fishes to swim into his net, he will then decide when to pull up his catch. China had caught up with this group of marketers and put them in jail as reported over CCN news.

    Some how I feel , members do not keep to the tropic of discussion, some divert a little .


  15. Tony,
    You are right. MLM is illegal. There is a difference between MLM and network marketing, though they have been used interchangeably.
    MLM is illegal but network marketing is not. One SHC member trying to promote a product to another SHC member at gathering is doing direct selling or network marketing.

    Same like your quest to look for a used handphone on the forum. I am with club ruling for no MLM. Subject closed for me on this matter.


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