Promised big returns, only to leave many high and dry

Investors who chased high returns have fallen victim to scams - here is a look at 6 such deals

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
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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.

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A version of this article appeared in the print edition of The Straits Times on April 03, 2021, with the headline Promised big returns, only to leave many high and dry. Subscribe