Self-claimed wealth gurus who drove Lamborghinis now made bankrupt; investors worry about their S$5m
Investors file multiple police reports and some wonder if they were duped into a ponzi scheme
Investors have reported multiple police complaints, with some speculating they may have fallen victim to a Ponzi scheme. Self-proclaimed wealth gurus Lim Jian Bin, 36, and Jason Fong Wai Hong, 46, once drove luxury cars like Lamborghinis and promised investors high returns on property deals and other businesses. However, just three years after promising annual dividends of up to 15%, the duo vanished, leaving over 50 investors with concerns over their S$5 million (US$3.9 million) investments.
Both men have been declared bankrupt, Lim in July and Fong in April. Fong reportedly traveled to Kuala Lumpur on June 21 and has not returned to Singapore. Investigations into both cases are ongoing.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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