Criminal Syndicate my arse!

[halsey02]

I learn't my lesson way back when they allowed people to use their CPF to invest in approved Unit trusts.

These "approved" companies of course ended up losing $$$.

What surprises me is that many uncles & aunties are still being caught up by these gov't initiated scams?

Have you forgotten about the 'bigger ones'?...CLOB??...when KLSE pulled the plug on CLOB...what did, 'one who said' who will bring KLSE to the International Court of Justice? & SIMEX trading Japanese Bonds ( right!?), don't forget, " SAM the woman"!?...did the then chairman of SES committed harakiri?? how much money of those, 'aunties & uncles' that were wiped out...& they happily again & again voted for the PAP...sigh!

 

[scroobal]

Bogus training courses are found all over the World. Those that are accredited for certain jobs such as security and safety personnel are easily fixed with instructors giving answers to questions during test. “Trainees” not turning up.

So are using phantom employees, illiterate individuals etc

As these are commonplace, should not the controls be there. Why is the Ministry not communicating to CPF to verify documents for instance.

These are not sloppy or being ignorant. They made it easy for their grassroot supporters to make money but they did not expect fraud to this scale.

 

[halsey02]

Bogus training courses are found all over the World. Those that are accredited for certain jobs such as security and safety personnel are easily fixed with instructors giving answers to questions during test. “Trainees” not turning up.

So are using phantom employees, illiterate individuals etc

As these are commonplace, should not the controls be there. Why is the Ministry not communicating to CPF to verify documents for instance.

These are not sloppy or being ignorant. They made it easy for their grassroot supporters to make money but they did not expect fraud to this scale.

You want to prosper, do the 'right thing', walk the line, learn from the best masters. Things gets out of hand, when the 'rats' becomes too greedy, the loss in grains at the silo, could be seen from afar, one can see the drop in level. As long as the,'rat's' steal the grains from underneath, while the drop in level is not visible...all is well.

 

[JohnTan]

Ask any small time businessman who has been with grassroots organisation in the last few years and they will tell you the various schemes where govt give you grants with the usual few documents.

Hee hee hee! Ho ho ho! Laughing my way to the bank all these years!

 

[ToaPehGong]

If any scheme introduced had a loophole, they should track back to the "chap" who crafted the terms and conditions. Why didn't they cover this angle?

 

[zhihau]

Hee hee hee! Ho ho ho! Laughing my way to the bank all these years!

Statement of the year award goes to you!

 

[scroobal]

Interestingly the abuse was across all races as votes are the same.

Hee hee hee! Ho ho ho! Laughing my way to the bank all these years!

 

[virus]

This is an open secret, classes r conducted n participants sign in gets cash rebate n photo taken. Can go off anything. So say $500 course u take back $100 just sitting in 5 mins

 

[johnny333]

Have you forgotten about the 'bigger ones'?...CLOB??...when KLSE pulled the plug on CLOB...what did, 'one who said' who will bring KLSE to the International Court of Justice? & SIMEX trading Japanese Bonds ( right!?), don't forget, " SAM the woman"!?...did the then chairman of SES committed harakiri?? how much money of those, 'aunties & uncles' that were wiped out...& they happily again & again voted for the PAP...sigh!

Silly me I was one of those who did not know that CLOB was another PAP scam. I was younger & knaive about how dirty the PAP was.

I hung onto my Malaysian shares & eventually got control of them after a few years. In fact I even tried to buy more when everyone was trying to sell

I still own most of the shares unfortunately the weak ringgit has eaten into the value of the dividends :(

 

[halsey02]

Silly me I was one of those who did not know that CLOB was another PAP scam. I was younger & knaive about how dirty the PAP was.

I hung onto my Malaysian shares & eventually got control of them after a few years. In fact I even tried to buy more when everyone was trying to sell

I still own most of the shares unfortunately the weak ringgit has eaten into the value of the dividends :(

You bought the Malaysian Shares when it was still scrip based?, must be scripless. I have left the "markets" a long time back, went back into Singapore market 2014, picked up a few bargain stocks & Malaysian stocks; Singapore mainly for dividends. Just to name a few, Genting, when it was below... , Malaysian Airlines/Air Asia before the storm, when they were low. Liquidated all stocks, collected good dividends from local ones, made money to buy myself a complete upgrade of my Hifi System.

Never went in, even in 2017.

I had a hard time, back then...explaining to Japanese office who had to explain to their investors, about the KLSE/CLOB/Singapore government saga..

Back then, had a couple of Malaysian shares, & I have a Malaysian Bank Account, where I deposit my dividend cheques, pay for shres purchases & receive monies when sold. Still have that bank account.

The amount of money lost by those older folks who got CLOBBERED by CLOB, can be researched....would not want to explain the technicalities & comment on..."who is right & who is wrong"..for we all jolly well know..."WHO"!

 

[mojito]

This is call trickle down effect. Everyone wins.

 

[rushifa666]

You bought the Malaysian Shares when it was still scrip based?, must be scripless. I have left the "markets" a long time back, went back into Singapore market 2014, picked up a few bargain stocks & Malaysian stocks; Singapore mainly for dividends. Just to name a few, Genting, when it was below... , Malaysian Airlines/Air Asia before the storm, when they were low. Liquidated all stocks, collected good dividends from local ones, made money to buy myself a complete upgrade of my Hifi System.

Never went in, even in 2017.

I had a hard time, back then...explaining to Japanese office who had to explain to their investors, about the KLSE/CLOB/Singapore government saga..

Back then, had a couple of Malaysian shares, & I have a Malaysian Bank Account, where I deposit my dividend cheques, pay for shres purchases & receive monies when sold. Still have that bank account.

The amount of money lost by those older folks who got CLOBBERED by CLOB, can be researched....would not want to explain the technicalities & comment on..."who is right & who is wrong"..for we all jolly well know..."WHO"!

Yeah the genting one was an easy read. 200% profit, the suckers who still kept are really dumb

 

[bobby]

All these fraud to the useless gahmen funded so-called skills training schemes date as far back as the Skills Development Fund days.