Yesterday, the three directors of Profitable Plots were charged in court for cheating over an investment scheme sold by their company.
Under the scheme, investors were promised a return of 12.5% in six months. The monies that investors put in were supposed to be used to finance the purchase of a chemical-based lubricant, Boron CLS Bond.
Once the lubricant was sold to commercial end-users, investors would be paid their capital and returns.
It is not known how many investors got their money back eventually.
The three directors have been granted bail at $400,000 and a hearing has been set for 10th April 2012.
Profitable Plots Directors Charged with Cheating (Straits Times)
When is the court case for the Profitable Plots directors?Reply