OEM goods, a term used for (original equipment manufacturer) refers to company that produces certain goods for others to repackage and sell; these goods vary in types but are found mostly in electronics and computer accessories. Usually, the sellers of OEM products tend to add some sort of value before selling so as to make the products more presentable and profitable.
I was also a dealer of OEM products particularly in computer accessories and I added value to these accessories before they were sold. Sometimes, I built computer components and even sub-systems from the OEM products I buy before I sell them. I sold my goods mostly on Amazon and I made some real cash from which my business grew into an empire. I imported the OEM goods from china to the U.S to sell; gradually I was making profit because once people bought my products they kept coming back for more and were recommending my products to others on Amazon.
The tentacles of my business was spreading because people from all around the world were buying from me, it got to a point that I had to be hiring people regularly in order to help me with coupling the necessary parts together in order to add more value to the products.
As time went on, my stock kept increasing which I think got me carried away because the money seemed not to be enough again. I felt I needed to amass more wealth than I have and so I tried investing on some other businesses on Amazon; I went to my savings and withdrew quite a large amount from it so that I can use it to make a larger amount.
Unknown to me it was a pseudo business that one was not supposed to even go near or think of investing in but unfortunately for me due to my greed and avarice I did. The pseudo business was structured such that after six months, one will start reaping the dividends, so I waited for six months eagerly anticipating the first paycheck from the investment I made (one I was never going to get).
However, after six months, I did not see anything, I felt it will soon be here that I do not need to worry, the business owners are only taking their time to pay up; I kept telling myself that till it was nine months.
That was when I now decided to even check the account and I found I could not log in, shocked I went to my Amazon account and the money some of my customers had paid were not there anymore and when I tried to complain, I was told that I had committed fraud with my account and that they were going to block it.
It was like everything was turned upside down; savings, I had very little anymore and business was just stopped, had to borrow to even pay off my workers in addition to selling all my assets and that was how I went bankrupt and lost everything.