Bad experience with land banking plot

Dear Mr. Tan,


Some years ago a good friend of mine purchased some UK Land Banking plots. She was so blinded by the opportunity that when I questioned it we fell out for a while. She could not believe that such opportunities could be allowed in Singpaore and advertised on the TV if they were not true. She was not particularly greedy in fact I found her to be a very kind and gentle person.


Like many of us she wanted an opportunity to help her get ahead in life and be secure. The upshot was she has lost a significant portion of her savings to a scheme that has no chance of success.


I felt ashamed that such things could happen in the UK. After investigating and contacting some UK local authorities I was horrified at the way these schemes are run. They are designed to have absolutely no chance of success and to extract as much money as possible from the unfortunate investor.


Unfortunately what i've also discovered is that defamation law makes it very difficult to criticise a scam unless it is almost 100% proved especially in Singapore. It seems the only way to prove a scam without time and huge resources is to wait for the company to fail.
Even then typically the company will restart 2 or 3 times under different names claim mismanagement by a single executive and take more money from their loyal customers.


SF