Asia Blockchain Boiler Rooms Hong Kong Singapore Thailand 

Thailand seeks to extradite Singaporeans in Eagle Gates share-trading scam

BANGKOK (THE NATION/ASIA NEWS NETWORK) – Thailand’s Department of Special Investigation (DSI) is seeking to extradite four Singaporeans on the charge of deceiving around 250 victims to trade in a fake firm and lose some 235 million Thai baht (S$9.8 million), a deputy DSI chief said. Police Colonel Songsak Raksaksakul, deputy DSI director-general, said the department is seeking co-operation from Singapore to extradite the four alleged masterminds of the Eagle Gates share-trading scam. Mr Songsak said DSI officers on Wednesday (Aug 22) obtained the Criminal Court’s approval to extend the…

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Asia Boiler Rooms Scam Thailand UK 

The website has been restored

The website has been restored in the U.K. after being blocked by Google for a month due to claims of alleged libel by a British businessman in Bangkok, Paul John Hayward. This site, along with and has maintained consistently that Hayward, from Birmingham, described as Bangkok’s ‘King of Clubs’, earned his real cash from ‘boiler room frauds’, that is setting up fraudulent share houses, to cheat people out of their life savings. Authors of investigations websites like these are of course prone to libel suits, and of…

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Binary option scams Boiler Rooms News Singapore 

$2.4m lost to binary option scams

More than 40 people in Singapore have lost about US$1.7 million (S$2.4 million) after being lured to take part in an unregulated, sometimes fraudulent and mainly offshore activity known as binary option trading. One victim lost a staggering US$693,000 after engaging in this highly risky trading, which is banned in some jurisdictions. Singapore police are investigating a string of complaints and disclosed the eye-popping losses yesterday, in response to queries from The Straits Times. Binary options trading involves investors predicting if the price of an underlying instrument – shares or…

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Asia Fine Diamonds Scam Asian Fine Diamonds Boiler Rooms Fine Diamonds Gems Itra Singapore Phone Scam Ponzi Singapore 

New Alert Asia Fine Diamonds email scam 2016

This information was just emailed to me about the Asia Fine Diamonds Scam and how it works in Singapore and other country’s. These are genuine articles but they originate from external sources such as the BBC Singapore. Then there was a follow-up phone call, asking to speak to the boss. Being told that he was unavailable, they asked for an email address to which to send their brochure. Which was slightly bizarre, given that they clearly already had an email address: even more bizarre, in that the email received in…

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Jakarta Ponzi scheme

2011, the police arrested Jaya Komara who allegedly defrauded his clients in an investment scam. The scam itself began to surface when four of his alleged victims reported the scam to the police. According to the police, the total fund accumulated from what appears to be a Ponzi scheme is estimated to be around Rp 6 trillion (US$632 million). He is due for release in 2016 The fund was accumulated primarily through Jaya Komara’s cooperative-based organization, Koperasi Langit Biru (KLB) which was established in January 2011. As stated by the…

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MOM Officer Phone Scam

Received a call from “MOM” officers? Beware it might be a scam! Police have received several reports of victims who received phone calls from scammers claiming to be officers from Ministry of Manpower (MOM). The scammers would call the victims using a phone number similar to the MOM Contact Centre’s hotline (6438 5122) and inform them about an error in their personal particulars. They were then told to transfer money to an account to settle issues related to their stay in Singapore or work pass application. MOM has clarified that…

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Boiler Rooms Gold Itra Singapore Singapore 

Suisse International gold buyback scheme

The latest fradulent gold buyback scam made the news just a few days ago, and things don’t look good for the 20+ investors who sank over $35 million into the scheme. Conned by a company called Suisse International, if these investors had only had a closer look at the company website, complete with poorly photoshopped pictures and a banner containing an egregious grammatical error, they might have smelled a rat. The company had its customers invest in gold in return for a monthly payout of $1,000 for every kilo of…

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Boiler Rooms ITRA News Phone Scam Timeshare 

Timeshare the Truth

When people hear the word “timeshare,” the expected knee-jerk reaction is to recoil and frantically scramble to the nearest exit. And there’s good reason for this. The timeshare industry has provided, admittedly, a lot of fodder for bad press. In its earlier days, potential buyers were given the celebrity treatment and would wake up the next day with a hangover, clutching the deed to a property they couldn’t afford. Timesharing was born in Europe in the mid 1960s and the first North American programs were launched in 1969. Over the…

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Boiler Rooms

As seen in the Movie Boiler Room, Boiler rooms are rooms that the sales pitch is so hot it boils. These boiler room scams happen to many Singapore and Malaysian People. In business, the term boiler room refers to an outbound call center selling questionable investments by telephone. It typically refers to a room where salesmen work using unfair, dishonest sales tactics, sometimes selling penny stocks, private placements, Asian Fine Diamonds or committing outright stock fraud. The term carries a negative connotation, and is often used to imply high-pressure sales tactics…

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