Top grad turns serial gambler

[Osiris]

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?

 

  Quote

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.

[Agentwilson]

i better invent some ' kangtao scheme ' fast

hahahaa

 

[1l0v3you]

hahaha lobang scheme LOLLLOLOlzxzxs!!!1!11!!!!

hahhahaha damn funnyLLO.

[Donut]

the ppl who gave him the $$ are the biggest fools.... including his MIL....

 

there's always a fool born every minute..

[Throttle2]

  On 4/28/2010 at 8:36 AM, 1l0v3you said:

hahaha lobang scheme LOLLLOLOlzxzxs!!!1!11!!!!

hahhahaha damn funnyLLO.

 

 

those who got cheated seriously damn STUPID , man....

[Osiris]

think i will do a "jinhotan (good to earn) Hedge Fund"

jinhotan for me lolz

[1l0v3you]

  On 4/28/2010 at 8:41 AM, Throttle2 said:

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.

[Tonyhawk]

maybe he just told them: "bro, i got lobang scheme to share with you, wanna invest?"

[Chewbacca]

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.

 

[SimonTan]

"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.

 

[Soho]

  On 4/28/2010 at 7:22 AM, Osiris said:

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...

 

[Jun86]

ROFL....imagine all the effort he needed to put on a straight face when he introduce his "LOBANG" scheme to his victims!!!!

[Hongwei]

ding~~~

[O0tsubasa0o]

lol sad :P

[Nyuu]

wah win 200k made him into a failure

[Fcw75]

Gambling can ruin one's life.

[Mockngbrd]

quite sad

[Leggt]

  On 4/29/2010 at 4:55 AM, Fcw75 said:

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.