S'pore investors who chase high returns fall victim to scams: 6 high-profile deals that went sour

From 2006 to 2007, thousands of Singaporeans bought almost 26,000 “lifestyle packages”, paying $240 to $12,000 to Sunshine Empire, which tapped money from new investors to pay old ones in a Ponzi scheme. PHOTO: SHIN MIN DAILY NEWS
Gift this subscriber-only story to your friends and family

SINGAPORE - With savings interest rates lower than 2 per cent and soaring property prices allowing only the wealthy in, investors in Singapore have been chasing higher returns by hunting down overseas properties and alternative schemes.

But this quest has seen many fall victim to scams.

Already a subscriber? 

Read the full story and more at $9.90/month

Get exclusive reports and insights with more than 500 subscriber-only articles every month

Unlock these benefits

  • All subscriber-only content on ST app and straitstimes.com

  • Easy access any time via ST app on 1 mobile device

  • E-paper with 2-week archive so you won't miss out on content that matters to you

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.