In yet another case of gold investment fraud here, the owner of a gold buy-back company Valiant Capital, had gone missing for a few months.
The Valiant Capital in Singapore is not to be confused with Valiant Capital Partners or Valiant Capital Management, which are hedge fund companies.
Valiant Capital operated a similar scheme as what Genneva Gold used to operate. In return for buying gold from them, they will give you a monthly payout of 1-2%.
In fact, it was set up in 2012 by Simon Goh Chee Kin, who was a former employee of Genneva Gold.
This was after Genneva Gold was raided by the CAD and Simon had promised investors to help them make back their money.
He even expanded to China and collected more than S$20 million from investors in China. If he gets caught in China, good luck to him. You know the penalty for scammers in China.
Good that all these gold buy-back schemes will finally be regulated.
Valiant Gold Director Gone Missing (Straits Times 21 Oct 2015)