S’pore woman who passed in 2023, reportedly invested S$50,000 in alleged pyramid scheme in China
He is trying to get the sum back.
In 2023, a woman in her sixties passed away after reportedly investing S$50,000 in an alleged pyramid scheme in China. The woman, whose name is not mentioned, made the investment following a trip to Nanning, Guangxi, China. The operator allegedly invited her on a five-day trip, promising to cover all expenses except airfare. During the trip, she attended gatherings at a recreational club in Singapore, where she met a man who claimed the Chinese government was developing Nanning into a metropolis.
The operator reportedly told her the trip would be packed with activities and information, leaving no room for doubt. Zhang, the woman's son, claims his mother became insistent about investing the money, and he eventually gave in. She made the investment at a local bank, and Zhang claims the operator asked her to recruit others to the scheme.
However, she could not persuade anyone and received no profit. When the woman passed away, Zhang attempted to recover the money, but the operator refused to refund it. Zhang plans to contact the bank to trace the transaction history. This incident follows reports of pyramid scheme activities occurring in China, where the Ministry of Foreign Affairs reported that 52 Singaporeans were arrested in Guangxi following a law enforcement operation against suspected pyramid scheme activities and related offences.
Written by urgent.news from Mothership's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
