Mr Low (not his real name) made an investment with an asset management company X with an office in Bencoolen Street. They promised him monthly dividend payments but the payment stopped after two months. He did not receive the payment due for the past three months.
The representative of X told him that the investee company in Kazakhstan was taken over by another company and had stopped making the payment. He refused to respond to further questions from Mr Low.
The representative of X told him that the investee company in Kazakhstan was taken over by another company and had stopped making the payment. He refused to respond to further questions from Mr Low.
Mr Low told me that he came to know of X because they offered to buy over his time share investment of $28,000, provided he put in another sum into X to make a total investment of $60,000.
This sounds like another investment scam. I checked the MAS Investor Alert List and found that the company was not listed there.
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