Under the new normal, Singaporeans are not only learning to live with Covid-19, but also to live with scams. With lockdowns around the world, the businesses of criminals are affected by social gathering restrictions, nightspot closures and logistic disruptions. To make up for the shortfall, organized crimes are driven online for alternative sources of income. More … [Read more...]
Ecohouse conman finally arrested
Ecohouse, a fake Brazilian public housing development, used to be the most popular overseas property project among Singapore investors back in 2012. Two years later, after it closed its office at Suntec City, more than 800 Singapore victims found that the project was a scam. They lost a total of over S$50 million. Last month, the UK police decided that there was no case for … [Read more...]
Case Study: A curious case of “no money down” property schemes
We present the case of John and his parents. John is an undergraduate student who has taken finance and investment classes that cover a range of asset-types, including real estate. During a family dinner, when discussing a module that John was taking in the university, Real Estate Investments and Finance, his parents divulged that they have made a real estate investment several … [Read more...]
Can’t answer these 5 questions? Stay clear of crowdfunding
In barely a week’s time, two crowdfunding projects have gone wrong. Investors grieved for failure to receive the promised returns and to recover their principal sums. An investment scheme that claimed to finance a builder known as Soilwood (listed company Soilbuild Group sound-alike) has stopped paying the guaranteed 4 to 6 percent quarterly return (“Investors cry foul over … [Read more...]