Osiris 1st Gear April 28, 2010 Share April 28, 2010 My question. who in the right mind will invest to something call "Lobang Scheme" The name alone is a warning bell http://www.tnp.sg/news/story/0,4136,238398,00.html? ELECTRIC NEWS He cheated victims of nearly $1.5million to pay off debts, maintain gambling habits Top grad turns serial gambler By Arul John April 27, 2010 Print Ready Email Article A 37-year-old man was sentenced to five years' jail on April 8 after pleading guilty to seven charges of cheating and two of not informing people that he was an undischarged bankrupt when he borrowed money from them. The reason for Soon Bock Kiat's predicament: The one-time high-flyer was a "closet" gambler and had resorted to borrowing and a life of crime to feed his addiction. The first-class honours accountancy graduate became an addict after he won $200,000 in 4D soon after he graduated. He started gambling on 4D, football pools and at casinos but his luck did not hold out. The one-time director of a health-care products distribution firm would then make bigger bets and began borrowing from friends and moneylenders – including $300,000 from his mother-in-law. After being declared a bankrupt in February 2005, Soon convinced three of his subordinates in the company to invest in bogus investment schemes, called Lobang schemes, which he claimed could yield returns of between 15 per cent and 200 per cent. One of them lodged a police report when he realised that Soon had cheated him. In all, Soon repaid his victims only about $324,000 of the nearly $1.5million he cheated them of or borrowed from them. ↡ Advertisement Link to post Share on other sites More sharing options...
Agentwilson 1st Gear April 28, 2010 Share April 28, 2010 i better invent some ' kangtao scheme ' fast hahahaa Link to post Share on other sites More sharing options...
1l0v3you Clutched April 28, 2010 Share April 28, 2010 hahaha lobang scheme LOLLLOLOlzxzxs!!!1!11!!!! hahhahaha damn funnyLLO. Link to post Share on other sites More sharing options...
Donut Supercharged April 28, 2010 Share April 28, 2010 the ppl who gave him the $$ are the biggest fools.... including his MIL.... there's always a fool born every minute.. Link to post Share on other sites More sharing options...
Throttle2 Supersonic April 28, 2010 Share April 28, 2010 hahaha lobang scheme LOLLLOLOlzxzxs!!!1!11!!!! hahhahaha damn funnyLLO. those who got cheated seriously damn STUPID , man.... Link to post Share on other sites More sharing options...
Osiris 1st Gear April 28, 2010 Author Share April 28, 2010 think i will do a "jinhotan (good to earn) Hedge Fund" jinhotan for me lolz Link to post Share on other sites More sharing options...
1l0v3you Clutched April 28, 2010 Share April 28, 2010 those who got cheated seriously damn STUPID , man.... if i were them i sure pai seh to make report i think the policeman laughed his ass off when he heard the lobang scheme LOL. which fool would think of a name like "lobang scheme"? and.. what kind of bigger fools will believe? LOL. i still feel like laughing hahaha. smiling at my phone so my colleagues dont think i'm crazy haaaaaahaa. Link to post Share on other sites More sharing options...
Tonyhawk 1st Gear April 28, 2010 Share April 28, 2010 maybe he just told them: "bro, i got lobang scheme to share with you, wanna invest?" Link to post Share on other sites More sharing options...
Chewbacca 1st Gear April 28, 2010 Share April 28, 2010 Aiyoi, you peasants are just too simple! You see, if I really were a con-man, do you think I'll call my schemes 'lobang schemes'? Of course not! So, if I were to do that, then the chances of me being a con will be lower! Actually, damn stupid leh. Link to post Share on other sites More sharing options...
SimonTan 2nd Gear April 28, 2010 Share April 28, 2010 "The one-time director of a health-care products distribution firm" MLM says MLM lah. Lobang scheme invented by him, must be derived from the usual MLM scheme lah. Link to post Share on other sites More sharing options...
Soho 4th Gear April 28, 2010 Share April 28, 2010 My question. who in the right mind will invest to something call "Lobang Scheme" The name alone is a warning bell http://www.tnp.sg/news/story/0,4136,238398,00.html? ELECTRIC NEWS He cheated victims of nearly $1.5million to pay off debts, maintain gambling habits Top grad turns serial gambler By Arul John April 27, 2010 Print Ready Email Article A 37-year-old man was sentenced to five years' jail on April 8 after pleading guilty to seven charges of cheating and two of not informing people that he was an undischarged bankrupt when he borrowed money from them. The reason for Soon Bock Kiat's predicament: The one-time high-flyer was a "closet" gambler and had resorted to borrowing and a life of crime to feed his addiction. The first-class honours accountancy graduate became an addict after he won $200,000 in 4D soon after he graduated. He started gambling on 4D, football pools and at casinos but his luck did not hold out. The one-time director of a health-care products distribution firm would then make bigger bets and began borrowing from friends and moneylenders – including $300,000 from his mother-in-law. After being declared a bankrupt in February 2005, Soon convinced three of his subordinates in the company to invest in bogus investment schemes, called Lobang schemes, which he claimed could yield returns of between 15 per cent and 200 per cent. One of them lodged a police report when he realised that Soon had cheated him. In all, Soon repaid his victims only about $324,000 of the nearly $1.5million he cheated them of or borrowed from them. eh.... looks like those LFI kind of MLM... i got friend oso after uni go join some MLM say can earn $$$ got lobang ask me go discuss business plan... Link to post Share on other sites More sharing options...
Jun86 Neutral Newbie April 28, 2010 Share April 28, 2010 ROFL....imagine all the effort he needed to put on a straight face when he introduce his "LOBANG" scheme to his victims!!!! Link to post Share on other sites More sharing options...
Hongwei Neutral Newbie April 28, 2010 Share April 28, 2010 ding~~~ Link to post Share on other sites More sharing options...
O0tsubasa0o Neutral Newbie April 28, 2010 Share April 28, 2010 lol sad :P Link to post Share on other sites More sharing options...
Nyuu Neutral Newbie April 29, 2010 Share April 29, 2010 wah win 200k made him into a failure Link to post Share on other sites More sharing options...
Fcw75 Hypersonic April 29, 2010 Share April 29, 2010 Gambling can ruin one's life. Link to post Share on other sites More sharing options...
Mockngbrd Supersonic April 29, 2010 Share April 29, 2010 quite sad Link to post Share on other sites More sharing options...
Leggt Clutched April 29, 2010 Share April 29, 2010 Gambling can ruin one's life. And we have two casinos right in front of our doorsteps....boy oh boy, how I missed satay club. ↡ Advertisement Link to post Share on other sites More sharing options...
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