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.
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

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.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.