Singapore - Frauds, Scams, Insider's Trading etc.

[winston]

More men being blackmailed over sexual acts recorded on web cameras By Jalelah Abu Baker

More men have been caught on camera performing sexual acts, and paying the price for it, literally.

The police said in a media statement on Wednesday that the number of cyber extortion cases involving foreign female suspects has increased. There were more than 50 reported attempted cyber extortions last year, compared to the 11 in 2011.

Most cases involve the women getting to know the men on social networking sites like Tagged.com and Facebook, and then persuading them to perform sexual acts in front of a web camera.

The women record these acts without the men's knowledge, and blackmail them with the recordings. They would threaten to circulate compromising photographs and videos of the victims to extort money from them.

Source: Straits Times

[winston]

Credit Suisse Bid to Dismiss Singapore Wealth Client Suit Fails

Sept. 2 (Bloomberg) -- Credit Suisse Group AG lost a bid to dismiss a lawsuit by a former private wealth client who is accusing the bank’s Singapore unit of failing to explain the risks of a complex investment product.

Former stockbroker Koh Kim Teck sued the unit for $26 million, claiming it gave him too little time to raise collateral in October 2008 after he suffered losses from “knock-out discount accumulators,” derivatives that commit investors to buying securities over a certain period.

They advised the Malaysian citizen to consider the investment products after he received more than $20 million from selling properties in Kuala Lumpur, he said in court papers. After the investments tanked, the bank gave him four hours to put up $5.7 million in collateral and closed his account, he said.

Source: Bloomberg

http://www.swissinfo.ch/eng/credit-suis ... s/40584308

[winston]

China warns of Singapore scams amid tourism controversy

http://www.bbc.com/news/world-asia-29929256

[behappyalways]

Danish ship fuel supplier OW Bunker goes bankrupt
http://www.bbc.com/news/business-29961566

[behappyalways]

OW Bunker Reports 2 Employees to Police, Declares Bankruptcy
http://www.bloomberg.com/news/2014-11-0 ... uptcy.html

[limayden]

IG Markets Questionable Ethics

Who is IG

IG is a market maker for Contract For Differences on shares, Forex and world stock market indexes.
Trading with IG

IG Markets has dealt the trades executed by their clients in two manners: Manual and Automatic dealing. In both manners, IG breaches the MAS administered laws. Further details and evidences will be provided below.

My cause

Over the past few years of trading with IG Asia, I have noticed several practices which are not in line with regulations put in place by regulatory boards (for eg, Monetary Authority of Singapore) and laws (for eg. Torts and contract law). These practices put traders at a disadvantage, and should not be tolerated. However, unless with great scrutiny, it is difficult to notice these anomalies. I have diligently put together many evidences after much analysis and evaluation and can confidently bring these practices to light.

Therefore, I am writing this article to inform traders and to garner support for my cause in advocating for fair trade within the CFD (Contract for Differences) trading industry.

Claims against IG (and evidences)

1) All automatic trades executed by clients are dealt in London, UK and not in Singapore as seen from the screenshot below.

This screenshot was taken from IG Singapore's trading portal. According to the MAS administered law, only CMS License holders are allowed to deal in securities. However, IG UK is not licenced and hence, is not authorized to deal with the trades of clients of IG Singapore. Based on this alone, IG has breached its contract.

MAS have confirmed in the email above that IG UK does not hold a CMS licence.
2) Similar to automatic trades, manual trades are also executed outside Singapore. They are executed by IG Australia. Therefore, these trades breach the contract as well.

IG has acknowledged that manual trades are handled internationally.

What you can do to help

I have started a petition on https://secure.avaaz.org/en/petition/IG ... ices/?pv=8
to garner support and gather victims of these unfair trade practices.

These supports will greatly aid us as they provide us with the grounds to raise the issue with the relevant authorities to stop these unfair practices from spreading. IG also must pay a price for their unlawful and unethical trading practices. It will be greatly appreciated if you could sign the petition to support this cause. Together, as traders, we can make this industry a fairer playing field.

Over the past years, I have gathered much evidences and information. This space http://igmarketsreviews.wordpress.com/ will be regularly updated with my findings and evidences. In the meantime, please do show your support by visiting and signing the petition.

[behappyalways]

(escalating rental costs and useless CASE.......what to do??? sighhhh)

LOCAL NAIL SPA SCAMS BAHRAIN COUPLE OF $1,259 FOR SIMPLE MANICURE
http://www.therealsingapore.com/content ... e-manicure

[winston]

More claiming car dealer cheated them of deposits

Mobile chat group draws over 80; total sum paid more than $1.5 million


http://www.straitstimes.com/news/singap ... s-20141217

[behappyalways]

OVER 150 PEOPLE CHEATED OF $50 MILLION BY GAMBLING-INVESTMENT COMPANY “SUREWIN4U”
http://www.therealsingapore.com/content ... u%E2%80%9D


SHAM GOLD INVESTMENT COMPANY SCAMS OVER 30 SINGAPOREANS OF MILLIONS
http://www.therealsingapore.com/content ... s-millions

[behappyalways]

BEAUTY COMPANIES PAY BLOGGERS TO WRITE FAKE REVIEWS DESPITE NEVER TRYING THEIR SERVICES
http://www.therealsingapore.com/content ... r-services