Sinkie Investors caught in '$60m property ponzi scam'

[bigboss]

I agree. That's why I always wonder what sinister intentions Roy has, when he keeps wanting our good government to allow sinkies to withdraw their savings at 55? As for me, I feel rich whenever I look at my CPF statement.

The CPF rules are still controversial to those members who need to withdraw their funds due to current financial difficulties but to those who do not need the money, it is a good way to keep it in CPF. Who is a better keeper than the Govt?

As long as the Govt is helmed by honest dicks, your money is safe, whether these dicks are from the pappies or the oppo parties. As LKY is now gone, who is there to ensure the Govt remains clean and corruption free?

 

[Buckethead]

......."There were never any problems. There were even people who pulled out early and got their capital and pro-rated returns back," he said, explaining why no alarm bells went off for so many years...."

These are the real investors....only those greed for more money suffer in the end.

 

[dancingshoes]

i know of a few ponzi schemes which are still going on in sinkieland. apparently, a friend had asked me if i am interested. he told me this particular property investment company(office in CBD) which does overseas property can reap him return of 30% and more. he was the first few VIP investors and after first few years, he got his return as promised and seem very proud of it, he was assured as he already got back his capital back. i told him that he could be the marketing tool for this company as he was the first few investors. furthermore, the company is not regulated by MAS as MAS deem it to be out of range for it to be regulated.

 

[Wunderfool]

Leong had the rosy life before Xi went all out to eliminate "the tigers and the flies" because these distressed properties attracted only those rich PRCs with the money to buy, money from ill gotten gains or embezzlement.

The tiongs love to invest in sinkie land due to political stability and strong rule of law but when Xi started to swing his hatchet, many tiongs pulled back their investment foreign properties to avoid the hatchet and kept low profile. The 15% ABSD is just peanuts to the devil may care tiong investors but Xi's hatchet is a real threat.

As long as the corrupts and thieves from PRC were thriving, Leong would always have the rosy life but when the tide changed, she was trapped. As reported in the news, she was in the game for more than 15 years until Xi came along.

Good perspective.

She should have stopped after 5 years... but the scheme went on for 15 years until it was too late. She should have seen it coming especially her scheme went through the 2008/ 2009 Global financial crisis where many ponzi schemes crashed at its aftermath. Maybe she was greedy and thought that Singapore is a "protected haven " ( bao jiak ) especially owing property is every Singaporean 's dream.

 

[songsongjurong]

http://www.mas.gov.sg/IAL.aspx?sc_p=A

The Investor Alert List provides a listing of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorised by MAS. This list is not exhaustive and will be updated.

these are known scammers, countless still under MAS radar...
A to Z,pick a letter,any letter.

 

[frenchbriefs]

I think the only reason her business worked for the first years is because its a ponzi scheme.she is another bernie madoff.what kind ofbusiness can promise 30% returns every year and sustain itself?obviously using capital to pay off investors.

 

[dancingshoes]

these are on alert but there is no warning issued.

http://www.mas.gov.sg/IAL.aspx?sc_p=A

The Investor Alert List provides a listing of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or authorised by MAS. This list is not exhaustive and will be updated.

these are known scammers, countless still under MAS radar...
A to Z,pick a letter,any letter.

 

[CoffeeAhSoh]

The CPF rules are still controversial to those members who need to withdraw their funds due to current financial difficulties but to those who do not need the money, it is a good way to keep it in CPF. Who is a better keeper than the Govt?

As long as the Govt is helmed by honest dicks, your money is safe, whether these dicks are from the pappies or the oppo parties. As LKY is now gone, who is there to ensure the Govt remains clean and corruption free?

LLY Ponzi Scheme​

 

[CoffeeAhSoh]

LLY Ponzi Scheme​

 

[laksaboy]

Is this something like land banking, I was once 'strongly encouraged' to plonk down my cash for land banking investments.

Once again, it's Lee Hsien Loong's fault. Lots of deregulation and borderline illegal 'investment opportunities'.

 

[CoffeeAhSoh]

LLY Ponzi Scheme

 

[CoffeeAhSoh]

LLY Ponzi Scheme

 

[Narong Wongwan]

i know of a few ponzi schemes which are still going on in sinkieland. apparently, a friend had asked me if i am interested. he told me this particular property investment company(office in CBD) which does overseas property can reap him return of 30% and more. he was the first few VIP investors and after first few years, he got his return as promised and seem very proud of it, he was assured as he already got back his capital back. i told him that he could be the marketing tool for this company as he was the first few investors. furthermore, the company is not regulated by MAS as MAS deem it to be out of range for it to be regulated.

The latest new scam now in the market is casino investment.
As high as 24% returns every 3 months.
Peddled by licensed financial consultants aka insurance sales people to make it look legit

 

[laksaboy]

Fengshui face analysis.

Narrow eyes.
High cheekbones.
Pointy chin.
Lips and teeth that form a natural 'snarl'.
High arch eyebrows.
A 'witch' nose.

Now I'm curious about the identity of the twits who trusted her with their money.

 

[lifeafter41]

Fengshui face analysis.

Narrow eyes.
High cheekbones.
Pointy chin.
Lips and teeth that form a natural 'snarl'.
High arch eyebrows.
A 'witch' nose.

Now I'm curious about the identity of the twits who trusted her with their money.

Does she looks like the type that will kill herself as claimed.
I do not think so.

Probably must be laughing all the way to the bank, wherever she and the husband might be now.

 

[lifeafter41]

The latest new scam now in the market is casino investment.
As high as 24% returns every 3 months.
Peddled by licensed financial consultants aka insurance sales people to make it look legit

24% return every 3 months would put gic/Temasek and the cpf board out of business ling time ago.

 

[Narong Wongwan]

24% return every 3 months would put gic/Temasek and the cpf board out of business ling time ago.

Dun underestimate the gong cheebye sinkies.....enough of them keep the pap in power.
Gold investment, land banking, magnetic mattresses, bucket shops etc etc same shit different day.....after all sinkie's vile pappy masters own the biggest one of all.....known as cpf

 

[Sharkey]

It's very nice to see this forum discuss a scam by a cheat without any reference to race.

 

[Papsmearer]

Is this something like land banking, I was once 'strongly encouraged' to plonk down my cash for land banking investments.

Once again, it's Lee Hsien Loong's fault. Lots of deregulation and borderline illegal 'investment opportunities'.

You cannot protect people from all this. Its up to them to make their due dilligence. Even Li Ka Shing and many successful businessmen have lost money on property.

 

[Wunderfool]

Does she looks like the type that will kill herself as claimed.
I do not think so.

Probably must be laughing all the way to the bank, wherever she and the husband might be now.

Probably, she and her husband already "run road". 15 years in the business.. she must have already planned her exit strategy some time ago.