High Court dismisses claims that multi-million-dollar investments were illegal loans

SINGAPORE - When the owner of an investment company failed to deliver the high returns he had promised to a couple who had invested millions, he claimed the monies he had received were in fact loans.

And since they were illegal under the Moneylenders Act, Mr K. Kalaivanan (Kalai), sole director of Right Angle Investment Holdings, said he did not have to pay back the sums owed.

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