[Sg] - Thousands of desperate Sinaporeans hoping PAP will bail out Chocolate Finance so they can get their life savings back

[UltimaOnline]

EDMW discussion :
https://www.google.com/search?q=EDMW+CNA+Explains:+What+happens+if+a+Singapore-licensed+investment+platform+goes+under?&rlz=1C1BNSD_enSG931SG931&oq=EDMW+CNA+Explains:+What+happens+if+a+Singapore-licensed+investment+platform+goes+under?&aqs=chrome..69i57.1335j0j15&sourceid=chrome&ie=UTF-8

CNA discusses whether PAP will bail out desperately struggling Chocolate Finance now :

https://www.channelnewsasia.com/singapore/mas-licence-sdic-investment-chocolate-finance-4995486

 

[bobby]

Would the Chocolate Finance customers give PAP donation if they made money out of this?

 

[batman1]

Choc Fin a scam.

 

[nabeifuckpap]

Never invest in Singapore finance unless you love being scammed

 

[parrardee]

Never invest in Singapore finance unless you love being scammed

I loved being scammed so I will vote for the Opposition.

 

[laksaboy]

Stay away from anything 'Singapore-based' or 'Singapore-listed' as much as possible, and your life will be a happier one, I promise.

This also tells you that 'approved by MAS', 'approved by MOE', 'approved by HSA', 'CASETrust certified' etc means fuck all on this shithole island. At the end of the day, it's caveat emptor, a simple matter of heng suay.

 

[cocobobo]

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EDMW discussion :
https://www.google.com/search?q=EDMW+CNA+Explains:+What+happens+if+a+Singapore-licensed+investment+platform+goes+under?&rlz=1C1BNSD_enSG931SG931&oq=EDMW+CNA+Explains:+What+happens+if+a+Singapore-licensed+investment+platform+goes+under?&aqs=chrome..69i57.1335j0j15&sourceid=chrome&ie=UTF-8


View attachment 216297

CNA discusses whether PAP will bail out desperately struggling Chocolate Finance now :

https://www.channelnewsasia.com/singapore/mas-licence-sdic-investment-chocolate-finance-4995486

What are you smoking?

They have the money for refund and don't need govt bailout.

The founder also made billions after selling his insurance co Singlife to the Japs.

It's a real non-story.

 

[cow138]

Stop fanning the flames

 

[UltimaOnline]

 

[eatshitndie]

or may be at least get a box of chocolates back?

 

[ftan42]

For the Lehman Brothers case, depositors received reimbursement from the bank with garment intervention. However, the situation is distinct in the case of chocolate financing.

 

[True Believer]

initially, I thought the company is doing some F&B or dessert related business

A well-intentioned, but poorly thought out marketing campaign backfired because of insufficient planning and poor crisis management. The end result has been major financial and reputational damage for Chocolate Finance.

 

[True Believer]

Choc Fin a scam.

In a nutshell, Chocolate Finance launched a promotion offering attractive air miles rewards for debit card spending. It backfired when customers exploited a loophole by using the card for high-volume bill payments through AXS. This resulted in costs far exceeding the company's projections; the program became unsustainable.