Today, I read in the newspapers about a woman called Rose Tan who managed to con her victims of $421,000 by promising an investment that gives 10% returns a month.
The money was never invested but was instead used by Rose for her personal expenses.
To make her story believable, she even used some of the money collected to pay out “dividends” to the investors.
In this case, even though the culprit was ultimately caught and dealt with by the law, only $112,000 of the money was recovered.
Caveat Emptor.
Conned by Sure-Win Scam (Straits Times)