Today, Singapore courts found the two Directors of Profitable Plots, Timothy Nicholas Goldring and John Andrew Nordmann guilty of cheating.
Investors were told that their funds would be used for the purchase of Boron products, but most of the money actually went to pay for the operations of Profitable Plots and other investors. The information that Boron products had been pre-sold to major corporations was also not true.
Timothy was sentenced to seven years in jail, while John was sentenced to eight years in jail. The two directors intend to appeal the conviction.
This might be a hollow victory for investors, as it is unclear whether they will be getting back any of their money.
Added : More reporting in the Business Times article below.
Two Profitable Plots Directors Get Jail (Business Times)