Ponzi schemes

NFL star Travis Kelce named a victim in $45 million Ponzi scheme

NFL star Travis Kelce was named as a victim in a US$35 million Ponzi scheme orchestrated by financier Siddharth Jawahar.

‘People came here dreaming of riches’: Inside the Nanning condo said to be part of a pyramid scheme

A four-bedroom unit at Skyfame Byland in Nanning, China. The unit is not known to be linked to the alleged pyramid schemes involving Singaporeans.

Singaporeans lured to join Nanning Ponzi scheme with free dinners, $8 manicures, sprawling condos

The view from the condo complex where Singaporean public servant Alice (not her real name) stayed at during her trip to Nanning, China, in March.

ST Explains: What are pyramid schemes and how are they dealt with in Singapore and China?

If an investment opportunity sounds too good to be true, it probably is, warned the Securities Investors Association (Singapore) in a statement on Sept 4.

52 Singaporeans arrested in China over suspected involvement in pyramid scheme

The 52 detainees were nabbed as part of a wider law enforcement operation, according to the Ministry of Foreign Affairs and Singapore Police Force.

HSBC takes $1.4 billion hit on Madoff fraud litigation

HSBC joins other global banks unexpectedly hit recently with ballooning costs on various cases dating back years.

Fugitive ponzi scheme boss assumed dead may be alive, London police say

Anthony Constantinou stole at least £70 million (S$122 million) from investors he lured with the promise of risk free returns.

Why promoters of dubious schemes are liable for investors’ losses

Mr Wan Hoe Keet (holding cash) and his wife Sally Ho, seen here with Mr Peter Ong, at a 2018 meeting in Macau.

Jail for ‘glorified secretary’ who facilitated crypto Ponzi scheme that scammed victims of $1.1m

Chinese national Chen Wei, 43, pleaded guilty to six cheating charges and one charge of not having a valid work pass.

S’porean couple in ‘sure-win’ Ponzi scheme ordered to pay $6.2m to woman who sued over loss

Singaporean couple Wan Hoe Keet (seated, left) and his wife Sally Ho with scheme founder Peter Ong in a 2018 meeting in Macau.

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MDDI (P) 046/10/2025. Published by SPH Media Limited, Co. Regn. No.202120748H. Copyright © 2026 SPH Media Limited. All rights reserved.