Martin Lee @ Sg
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Twist in Profitable Plots Saga

And so the Profitable Plots saga drags on.

CAD has asked for more time to conclude it’s investigations into Profitable Plots. I have actually lost count of the number of times CAD has asked for more time to work on the case.

This time round, CAD has found an independent expert witness in the US, and would be able to compete its investigations within the next few months.

And so, the next hearing will be held on March 8 next year.

In a separate twist of events, Profitable Plots is now considering legal action against Securities Investors Association Singapore (SIAS) and its CEO, Mr David Gerald.

It had sent out legal letters alleging defamation based on a webcast that Mr Gerald made in May 2011 on the SIAS website.

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1 comment
Steve F says 12 years ago

In my experience Profitable Plots often used threats of legal action to silence detractors. As far as i can determine Profitable Plots are being investigated by the CAD, they are no longer trading, their offices in Stanley Street have long since been occupied by a new business, their web site is down, and the investment that they said would provided estimated returns of 250% in this Singapore TV advert from 2008 shows zero signs of providing any returns.

I would hope Profitable Plots would feel able to respond to serious investor concerns about their investments not sue groups who are trying to find out what is going on.

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