Sunday, February 28, 2016

Avoid Falling Victim to Investment Scams

Best we learn from the past but first scan thru MAS Investor Alert List at

Diamond no more your best friend - Apr2016

Promised 30% return in two years or keep the diamond after two years. Average cost per diamond is S$15,000.

Other warning now:  One Plantation Capital and Tropical Forestry Venture (Agarwood Investment)

1. Gold Not More Flitters
2015 - Valiant Capital and Suisse International  (20+ investor, $35 mil)
2013 - Gold Guarantee Lee Song Teck
2012 - Genneva Gold  (> 10,000 investors)

2. Britain Land Parcel Boron
Apr2013 - Profitable Plots (Britons Timothy Goldring & John Nordmann) $3.1mil
Promised 12.5% every six months

4. MLM Sunshine Empire (James Phang Wah)
Nov2007 - Ponzi scheme $180mil over 26,000 packages
100% every year for 9 years as $12,000 capital receive $1,000 every month

5. Brazil Property EcoHouse & WealthSol
Claimed to be working with Brazil government
$46,000 capital get 20% per year

6. Warning - The Cassava Tapioca Grower Scheme by Marco Robinson & Golden Valley of Wealth

7. Property Investment
24May2015 - Adeline Leong Lai Yee (Mdm Tan) Ponzi scam $60mil over 100 investors
Husband - Tan Eng Soon

Around 60 people are claiming to have been duped by woman over 'sweet' property deals

Lee Song Teck


  1. My wife was scammed by a woman called Aida Amanda Atan. In June 2015,this woman persuaded my wife to invest $10000 in her business called Amanda Consultancy and Training. She showed my wife financial statements proving she made huge profits.To seal the deal, she also promised to pay my wife the capital with dividends starting from July 2015 and will fully repay the $10000 within one year. But after receiving the money,the woman never pay anything and gave many excuses to avoid payment. Her excuses include her father's death, then her uncle's death, then her customer's cheque bounced etc. My wife's money is lost in this scam and we cannot do anything about it. Please be careful of such investment scams which is too good to be true.

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