Billionaire paint tycoon Goh Cheng Liang makes police report after his name was used in a scam

Billionaire paint tycoon Goh Cheng Liang  denied any links to the "Blazing Trading System" scheme and investment methods that an online article claimed he had endorsed.
Billionaire paint tycoon Goh Cheng Liang denied any links to the "Blazing Trading System" scheme and investment methods that an online article claimed he had endorsed.PHOTO: LIANHE ZAOBAO

SINGAPORE- Billionaire paint tycoon Goh Cheng Liang has lodged a police report after his name and images were used without authorisation in a "get-rich-quick" scam, said his spokesman.

The police confirmed the report was made in July this year.

The founder of Nippon Paint South-east Asia Group and the fifth-richest person in Singapore, according to a 2016 ranking by Forbes, denied any links to the "Blazing Trading System" scheme and investment methods that an online article claimed he had endorsed.

A notice provision was also put up in The Straits Times stating that the article was published without Mr Goh's "consent, knowledge or endorsement".

Two other instances of online articles using Mr Goh's name and images were found subsequently, added the spokesman, with one falsely claiming that the 90-year-old businessman had died and another falsely stating that he was going to invest in a bitcoin start-up.

"(Mr Goh) is concerned and alarmed that his name is being used by outsiders with possible ill intentions to mislead unsuspecting members of public," said his spokesman.

So far, they have heard of one victim who had invested money in the "Blazing Trading System" scheme.

"We hope to highlight these false articles to help prevent such incidents of online scams and false postings. We also hope to stop people from falling prey to the scams," said the spokesman.

In a similar case reported on Thursday (Oct 5), billionaire Peter Lim lodged two police reports after his name and images were used in online scams involving fake social media accounts and false claims that he endorsed investments in a cryptocurrency.