Tuesday, October 6, 2009

Mini-Bernies

It’s seems Ponzi is more famous than I thought. I mean I only knew of the man and his Ponzi scheme last year when Bernie Madoff became famous but he was known to certain Singaporeans before that.

3 directors of Sunshine Empire, a multi—level marketing firm in Singapore, are on trial for running a giant Ponzi scheme that may have came to more than S$180 million. Small fry compare to what good old Bernie did but the 3 directors still faced 37 charges for falsifying accounts, making false capital declarations and running a fraudulent trading company.

A $180 million Ponzi scheme in Singapore? Yes, you know Singapore has made it when we have our own mini-Bernies.

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