For subscribers
Why promoters of dubious schemes are liable for investors’ losses
Sign up now: Get ST's newsletters delivered to your inbox
Mr Ken Wan (holding up cash) and his wife Sally Ho, seen here with Mr Peter Ong, at a 2018 meeting in Macau.
PHOTO: COURT DOCUMENTS
Follow topic:
SINGAPORE - Crime does not pay, and neither does deception by those who make false claims to lure people into dubious financial schemes.
In what seems like a warning to those who promote dubious schemes to investors, the Appellate Division of the High Court recently ordered a Singapore couple to pay a $6 million compensation for misleading a victim of a Ponzi scam into thinking that it was “safe and profitable”.
