Suisse International : More Than 100 Conned of S$35 Million

[CoffeeAhSoh]

More than 100 investors alert police about local investment firm Suisse International

By Joanna Seow


SINGAPORE - More than 100 unhappy investors gathered outside the Police Cantonment Complex on Monday to make police reports to the Commercial Affairs Department (CAD) about a local investment company.

They had invested in a gold buyback scheme with Suisse International but claim that they have not received their promised monthly capital payouts since September.

More recently, bosses of the company are alleged to have dropped out of contact.

The investors present claimed to represent around 250 people who have lost an estimated total of $35 million.

 

[CoffeeAhSoh]

A 42-year-old woman who gave her name as Madam Wong said they had been waiting until Jan 31 to be returned their capital, as promised by the company.

She said they decided to take action after discovering that the general manager Jeffrey Chow is an undischarged bankrupt and the company tried to further extend the date of return.

Many of them had previously bought gold from another firm, Genneva Gold, which was raided by the CAD in 2012, and were eager to sell it off.

Customers were told Suisse International bought and sold gold to turn into novelty coins to be sold at a profit to local or overseas companies.

Another investor, Mr Teo, said he had borrowed money from a bank to invest. Since July 2013, he put in several hundred thousands of dollars and introduced more than 10 friends to the programme, which he said he now feels bad about.

"At first I thought the investment was not bad, there were returns... it looked legitimate, the office in Toa Payoh was so big and I was at the opening of the Johor Bahru office as well," said the retiree who is in his 50s.

"But the more we hear, the more we feel we have been very naive. It's a really painful feeling. We want to tell the bosses to come out and have a press conference and tell us when they will repay us."

- See more at: http://www.straitstimes.com/news/si...about-local-investment-f#sthash.fH001sWp.dpuf

 

[ynk2252]

Wow got ma'cik also. Must be making lots of money from selling nasi lemak or lontong.

 

[ynk2252]

"At first I thought the investment was not bad, there were returns... it looked legitimate, the office in Toa Payoh was so big and I was at the opening of the Johor Bahru office as well," said the retiree who is in his 50s."

Big show to carry out a big sting.

 

[SunShangXiang]

Here we go again.. another one..

 

[Precedent]

They never learn do they?

 

[CoffeeAhSoh]

Big show to carry out a big sting.

??? u mean inside job ???

 

[ynk2252]

??? u mean inside job ???

No its just these conmen set up a big show to make people believe that they are a big Company which would be in for the long haul so that they can rope in more suckers.

 

[master]

All together now! Huat Ah!!!!!!

 

[shittypore]

30 yrs ago many frens also put money in a scheme know as CPF which promise to repay in full when they reach 55 yrs old. Today many hve hit 55 yrs old but did not rec their amt in Full, how? can go CAD and make report!

 

[GoldenDragon]

A 42-year-old woman who gave her name as Madam Wong said they had been waiting until Jan 31 to be returned their capital, as promised by the company.

She said they decided to take action after discovering that the general manager Jeffrey Chow is an undischarged bankrupt and the company tried to further extend the date of return.

Many of them had previously bought gold from another firm, Genneva Gold, which was raided by the CAD in 2012, and were eager to sell it off.

Customers were told Suisse International bought and sold gold to turn into novelty coins to be sold at a profit to local or overseas companies.

Another investor, Mr Teo, said he had borrowed money from a bank to invest. Since July 2013, he put in several hundred thousands of dollars and introduced more than 10 friends to the programme, which he said he now feels bad about.

"At first I thought the investment was not bad, there were returns... it looked legitimate, the office in Toa Payoh was so big and I was at the opening of the Johor Bahru office as well," said the retiree who is in his 50s.

"But the more we hear, the more we feel we have been very naive. It's a really painful feeling. We want to tell the bosses to come out and have a press conference and tell us when they will repay us."

- See more at: http://www.straitstimes.com/news/si...about-local-investment-f#sthash.fH001sWp.dpuf

Lots of such projects in China. Greed kills! If returns are too good, beware.

 

[GOD IS MY DOG]

I thinking of starting a similar scam.............err, scheme leh.............

but use platinum instead........i'll call it..........Zurich International Reserve Fund.........impressive sounding boh ?

 

[Papsmearer]

Why MAS allow all these bullion trading companies to start up in the first place? Are they regulated at all? seems like a lot of cheating going on nowadays.

 

[halsey02]

30 yrs ago many frens also put money in a scheme know as CPF which promise to repay in full when they reach 55 yrs old. Today many hve hit 55 yrs old but did not rec their amt in Full, how? can go CAD and make report!

CAD will tell you, "kar ki lang, pak si buay siang kang"....when you reach 55 years of age, you can't not pay for this & that, but, you look at your CPF statement..wah! I am so rich ( remember 'toothpick' lim remarks), but you can't pay, " car chng , ang ang"!! ha ha ha

You approach CPF..."please, please, give me some 'gruel'"...they tell you , "NO"....but your forget, that is your money & they are refusing to give you any...until your 65 & BEYOND...& like pouring water in those tiny conical paper cup fill, every month...

You dare report this to CAD....

 

[batman1]

30 yrs ago many frens also put money in a scheme know as CPF which promise to repay in full when they reach 55 yrs old. Today many hve hit 55 yrs old but did not rec their amt in Full, how? can go CAD and make report!

Greatest con scheme in the world.Keep shifting the goal post to make it very difficult for u to withdraw your own money.
IF U want to get back ALL your money at 55,VOTE OUT the MIW NOW !!!

 

[tonychat]

May I ask what do those companies ask them to invest in?

 

[Tuayapeh]

May I ask what do those companies ask them to invest in?

Your ladyboy wife and you .......


whether your cum filled arseholes will drip gold.......

fuck off back to the hole you crawled out from ccb!

 

[tonychat]

oh i see, invest in gold..

wanna buy gold, go to the bank lah..why go to these kind of weird company.

It is like buying mobile phone from simlim.

 

[swimorsink]

oh i see, invest in gold..

wanna buy gold, go to the bank lah..why go to these kind of weird company.

It is like buying mobile phone from simlim.

Its not easy to agree with what you post most of the time but this one I do think the same as you.

 

[CoffeeAhSoh]

oh i see, invest in gold..

wanna buy gold, go to the bank lah..why go to these kind of weird company.

It is like buying mobile phone from simlim.

this company founder and registered owner Mr Chaw Soo Ha got National Day Award one .


coffee ah pek told me therefore people trusted his son Jeffrey Chow.

Background of firm 's vice president Ms Belinda Hah ah pek said not sure .