Sources have acknowledged that investors were at least partially to blame for pursuing what they saw as a get-rich-quick scheme, without fully researching how PS Agriculture’s expansion fund operated, and that many who decided to contribute to the fund based on the advice of friends or family “didn’t understand the contract” behind their investment or even the “basic procedures of the company.”But a Laos-based legal expert recently called PS Agriculture a “scam” that operates by “taking money from one person and paying it as interest to another,” with an elaborate network of brokers who “hunt for innocent investors as victims” in exchange for commissions.
In a meeting with the Bank of the Lao PDR last week, officials from PS Agriculture acknowledged that they had committed fraud by operating the firm as a financial institution after registering it as an agricultural company and pledged to undergo an audit to report its prior business dealings.
The PS Agriculture and Industry Promotion Import-Export Company of Laos ceased providing promised interest payments in January this year and as investors sought to withdraw their capital, they were told it had been used to build infrastructure and attract new deposits through high rates of return, leaving them little recourse.At a meeting on Wednesday, PS Agriculture director Por Her told investors that the company plans to repay the nearly 100 million kip (U. .14 million) it owes them, although not before a July 6 deadline ordered by the Bank of the Lao PDR—the country’s Central Bank.Archaeological finds point to a high level of skill and sophistication at an astoundingly early date.The first prestigious garments were probably the skins of dangerous animals worn by daring hunters.Though the Bible associates Mizraim’s name with Egypt, archaeologists have not found any mention of his name, and there is no evidence that he built any pyramids.
According to Manetho, pyramid-building began when the architect Imhotep designed the “Step Pyramid” in the third dynasty, similar to the ziggurats of Sumer.The Egyptians easily could have exaggerated, and several pharaohs may have ruled at the same time in different regions of the land, as archaeologist David Down suggests in his revised chronology (above).Furthermore, secular historians recognize that the Egyptian dates do not match the records of other ancient nations.Their dates would place the first dynasties before the biblical Flood, but we know that this cannot be true.We should go to God’s Word first, rather than trusting the word of a man who wrote over one thousand years after Moses.Almost all regions of the country are suitable for the farming of cotton and mulberry trees, which are often planted on cooperative land with a view to providing raw materials for the wider community.