- Joined
- Aug 30, 2014
- Messages
- 128
- Points
- 43
Surname Hah sounds like Malaysian type of surname.
-
IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here. The OTHER forum is HERE so please stop asking.
Suisse International : More Than 100 Conned of S$35 Million
- Thread starter CoffeeAhSoh
- Start date
Surname Hah sounds like Malaysian type of surname.
- Joined
- Aug 30, 2014
- Messages
- 128
- Points
- 43
That means we agree too. Are we 3 clever or what?
- Joined
- Jan 22, 2014
- Messages
- 8,901
- Points
- 113
Investors in gold scheme alarmed by firm's silence
Aw Cheng Wei and Joanna Seow
The Straits Times
Monday, Jan 26, 2015
More than 20 investors who put around $7 million into a gold buyback scheme run by local firm Suisse International are now worried that
they cannot get their money back.
Not only is its owner uncontactable, they said, but the company's office at Keypoint in Beach Road has also been closed.
The last message the investors received was from the firm's vice-president Belinda Hah in the first week of January. That was when she
informed them via SMS that their money was stuck in a transfer to the firm's Hong Kong branch - Suisse HK.
No further details were given on how investors could get their money back. At least three of them have gone to the police, and engaged a
debt collection agency to locate Ms Hah.
The investors were all introduced by their friends to Ms Hah and her partner Jeffrey Chow. He is believed to be the son of the company's
registered owner, Mr Chaw Soo Ha.
"After we joined, we also brought our friends in because (Suisse) promised to give us better returns and sell us gold at a cheaper rate if
we recommended others," said operations manager Louis Tan, 36, who put in $40,000 last June.
It was easy to convince their friends to join because the company promised them about $1,000 a month, which worked out to a 20 per
cent return, for every kilogram of gold they bought.
The investors were told that the profit came from melting the gold and turning it into limited-edition coins or other novelty items, which
were sold overseas or to other local companies. The investors also said they were told Suisse International was headed by a former police
officer, and that bolstered their confidence.
"We also saw other people receiving cheques when we agreed to invest," said housewife Y.H. Yang, 53, who had put in $2.2 million since
April last year.
Investors began worrying last December when Ms Hah delayed their payouts, citing cashflow concerns. She also said investors would get
cash payouts instead of cheques, as the firm was trying to avoid the Monetary Authority of Singapore's (MAS) scrutiny.
The MAS had put both the Singapore company and its Hong Kong branch on its Investor Alert List last November. Both firms, despite one
being located in Hong Kong, are listed with the same Beach Road address on the list.
"That's when we knew something was wrong. How can a company claim to be legitimate if it was worried about the authorities?" said Mr
Tan.
The Straits Times tried contacting Ms Hah, but calls went unanswered. A visit to the firm's office yesterday also found it closed.
When The Straits Times went to Mr Chaw's Bishan flat, neighbours said that they had not seen him for about six months.
Madam Yang, who also sold her ancestral home in Shanghai to bankroll her investment, said: "I'm worried that I've been cheated. That
was my life savings and money saved for my nine-year-old daughter's future."
The police said it was inappropriate to comment on the case as investigations are ongoing.
OTHER MAJOR GOLD SCAMS
THE GOLD GUARANTEE
Investors were offered monthly payouts to purchase gold at a premium from the company, which also had businesses in Thailand,
Malaysia and Hong Kong.
In 2013, investors were left in the lurch when payments ceased suddenly and founder Lee Song Teck vanished. They lost tens of
thousands of dollars.
GENNEVA GOLD
In 2012, more than 10,000 investors lost their money to Genneva Gold, which was raided by the Commercial Affairs Department.
The company sold gold at a 2 per cent discount to market prices. It promised to buy back the gold 30 or 90 days later. Investors
reportedly poured up to RM10 billion into its Malaysian arm as well.
- Joined
- Oct 23, 2013
- Messages
- 26,183
- Points
- 113
There is also another variation... CHAU.
I gusess CHOW can be CHAW or CHAU.
just like Cheebye can be JeeBuy or Cheebuy or Jeebuy or Tsibuy or Tsibye.
- Joined
- Jan 22, 2014
- Messages
- 8,901
- Points
- 113
Founder and Ex Policeman Mr Chaw Soo Ha got National Day Award . Therefore people trusted the Ex Policeman lor
- Joined
- Aug 30, 2014
- Messages
- 128
- Points
- 43
There is also another variation... CHAU.
I gusess CHOW can be CHAW or CHAU.
just like Cheebye can be JeeBuy or Cheebuy or Jeebuy or Tsibuy or Tsibye.
That is a helluva lot of aliases for just 1 cunt.
- Joined
- Dec 27, 2012
- Messages
- 52
- Points
- 0
morons are born every minute!
- Joined
- Jan 22, 2014
- Messages
- 8,901
- Points
- 113
http://www.todayonline.com/singapore/over-260-investors-lodge-police-reports-gold-buyback-scheme
Over 260 investors lodge police reports on gold buyback scheme
SINGAPORE — The number of people seeking late investment returns from a gold buyback scheme run by local firm Suisse International appears to be larger than initially thought. It has also emerged a bigger amount than first thought is involved, too.
By Robin Choo -
February 3
SINGAPORE — The number of people seeking late investment returns from a gold buyback scheme run by local firm Suisse International appears to be larger than initially thought. It has also emerged a bigger amount than first thought is involved, too.
More than 100 individuals showed up at the Police Cantonment Complex yesterday to lodge reports with the Commercial Affairs Department (CAD). This is more than what was initially reported in the media, which said over 20 investors were affected, with about S$7 million involved.
An investor helping to coordinate the police reports, who only wanted to be known as Ms Tan, told TODAY that more than 260 investors had visited the CAD, claiming a total of more than S$35 million in losses. The ages of those affected ranged from 20 to 80, with the majority of them in their 40s to 60s, she said.
The police reports come after Suisse International failed to pay up investors by end-January — a deadline the firm had set after purportedly defaulting on payouts for months. The firm apparently promised investors returns of between 20 and 25 per cent from selling limited-edition coins made from gold that it had bought. The payouts stopped after September last year, investors allege.
Asked about the case, a police spokesperson said it was inappropriate to comment on police investigations, if any.
The police reports were made against four individuals, including the registered owner Chow Kin Loo alias Chaw Soo Ha, his son and general manager Jeffrey Chow, and his daughter Chow Wai Ying, who was its account director. A check on the Ministry of Law’s website shows Mr Jeffrey Chow as an undischarged bankrupt. A bankruptcy order was issued against him on Oct 14, 2005.
The fourth was Ms Belina Hah, said to be a vice-president in Suisse International who topped sales with over 7,000 invoices, investors said.
An investor, who only wanted to be known as Ms Sim, said they last heard from the management of Suisse International one week ago to inform them that payments would be delayed to this month.
Mr Jeffrey Chow told investors that he had to close the firm’s Singapore accounts and transfer the money to its Hong Kong branch, Suisse HK, to avoid the Monetary Authority of Singapore’s (MAS) scrutiny. He also persuaded them to set up bank accounts in Hong Kong so as to have their payments continued, said Ms Sim.
Another investor, a retiree in his 50s, said that he had not received any payments after setting up a bank account in Hong Kong.
Investors whom TODAY spoke to said that they were investing for their retirement or for their children’s further education.
Another vice-president of Suisse International, Mr Michael Ng, was also among those at the CAD yesterday, saying he was there to represent his clients.
He claimed to be unaware of the company’s management’s plans and that he had also lost money in the scheme, but declined to say how much.
Although he initially said he came to know Mr Jeffrey Chow only a couple of months before Suisse International was set up in 2013, Mr Ng, after being pressed, said the two met during his time at The Gold Guarantee, whose founder Lee Song Teck disappeared with tens of thousands of dollars early last year.
Over 260 investors lodge police reports on gold buyback scheme
SINGAPORE — The number of people seeking late investment returns from a gold buyback scheme run by local firm Suisse International appears to be larger than initially thought. It has also emerged a bigger amount than first thought is involved, too.
By Robin Choo -
February 3
SINGAPORE — The number of people seeking late investment returns from a gold buyback scheme run by local firm Suisse International appears to be larger than initially thought. It has also emerged a bigger amount than first thought is involved, too.
More than 100 individuals showed up at the Police Cantonment Complex yesterday to lodge reports with the Commercial Affairs Department (CAD). This is more than what was initially reported in the media, which said over 20 investors were affected, with about S$7 million involved.
An investor helping to coordinate the police reports, who only wanted to be known as Ms Tan, told TODAY that more than 260 investors had visited the CAD, claiming a total of more than S$35 million in losses. The ages of those affected ranged from 20 to 80, with the majority of them in their 40s to 60s, she said.
The police reports come after Suisse International failed to pay up investors by end-January — a deadline the firm had set after purportedly defaulting on payouts for months. The firm apparently promised investors returns of between 20 and 25 per cent from selling limited-edition coins made from gold that it had bought. The payouts stopped after September last year, investors allege.
Asked about the case, a police spokesperson said it was inappropriate to comment on police investigations, if any.
The police reports were made against four individuals, including the registered owner Chow Kin Loo alias Chaw Soo Ha, his son and general manager Jeffrey Chow, and his daughter Chow Wai Ying, who was its account director. A check on the Ministry of Law’s website shows Mr Jeffrey Chow as an undischarged bankrupt. A bankruptcy order was issued against him on Oct 14, 2005.
The fourth was Ms Belina Hah, said to be a vice-president in Suisse International who topped sales with over 7,000 invoices, investors said.
An investor, who only wanted to be known as Ms Sim, said they last heard from the management of Suisse International one week ago to inform them that payments would be delayed to this month.
Mr Jeffrey Chow told investors that he had to close the firm’s Singapore accounts and transfer the money to its Hong Kong branch, Suisse HK, to avoid the Monetary Authority of Singapore’s (MAS) scrutiny. He also persuaded them to set up bank accounts in Hong Kong so as to have their payments continued, said Ms Sim.
Another investor, a retiree in his 50s, said that he had not received any payments after setting up a bank account in Hong Kong.
Investors whom TODAY spoke to said that they were investing for their retirement or for their children’s further education.
Another vice-president of Suisse International, Mr Michael Ng, was also among those at the CAD yesterday, saying he was there to represent his clients.
He claimed to be unaware of the company’s management’s plans and that he had also lost money in the scheme, but declined to say how much.
Although he initially said he came to know Mr Jeffrey Chow only a couple of months before Suisse International was set up in 2013, Mr Ng, after being pressed, said the two met during his time at The Gold Guarantee, whose founder Lee Song Teck disappeared with tens of thousands of dollars early last year.
- Joined
- Jan 22, 2014
- Messages
- 8,901
- Points
- 113
"The police reports were made against four individuals, including the registered owner Chow Kin Loo alias Chaw Soo Ha, his son and general manager Jeffrey Chow, and his daughter Chow Wai Ying, who was its account director. A check on the Ministry of Law’s website shows Mr Jeffrey Chow as an undischarged bankrupt. A bankruptcy order was issued against him on Oct 14, 2005."
In Oct 24 , 1972 , Detective Chow Kin Loo alias Chaw Soo Ha shot dead notorius gunman Lim Ban Lim at Margarat Drive .
For this Detective Chow was award the Police 's PPP , Gallantry Medal.
Sorry Not National Day Medal hor
In Oct 24 , 1972 , Detective Chow Kin Loo alias Chaw Soo Ha shot dead notorius gunman Lim Ban Lim at Margarat Drive .
For this Detective Chow was award the Police 's PPP , Gallantry Medal.
Sorry Not National Day Medal hor
- Joined
- Jul 10, 2008
- Messages
- 24,581
- Points
- 0
National day award given by who....you know who
it is your sinkie PAP!! this one confirm cannot trust..only draft sinkies like you will be conned.. Those sinkies deserve it.
- Joined
- Jul 10, 2008
- Messages
- 24,581
- Points
- 0
this award got nothing to do with investing...and pls CSI properly.
- Joined
- Apr 20, 2012
- Messages
- 477
- Points
- 0
One word " greed " !!
- Joined
- Apr 20, 2012
- Messages
- 477
- Points
- 0
Fools and their money are soon parted.
I cannot believe there are so many idiots in this world.
A fool is born every min . Just look at religion , the world oldest scam is still going on strong !!
- Joined
- Oct 9, 2009
- Messages
- 9,841
- Points
- 0
- Joined
- Aug 30, 2014
- Messages
- 128
- Points
- 43
Fools and their money are soon parted.
I cannot believe there are so many idiots in this world.
This is because you spend a lot of time on this forum where most of us are well informed and wise. In the real world, idiots are a dime a dozen.
- Joined
- Apr 20, 2012
- Messages
- 477
- Points
- 0
Are you still donating 10% every month ?
Jesus fucking Christ , I'm not even a Christian .
- Joined
- Jul 7, 2011
- Messages
- 23,788
- Points
- 113
Silly sinkies. This is not fraud. This is a company refusing or unable to fulfill its part of the contract. Company gave them the overpriced gold, didn't they? Law says you went in with your eyes wide open. Trade is done deal.
Similar threads
