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Thread: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

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    Default Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    SINGAPORE: In 2014, three men cheated 182 victims of S$6,163,772 in a span of seven months before fleeing to China as new millionaires. The only one of the trio to return, Koh Chek Seng, was sentenced to 10 years’ jail on Friday (Feb 17).

    The 34-year-old pleaded guilty to 20 charges, with another 180 taken into consideration during sentencing.

    He admitted to setting up a car dealership – Volks Auto Pte Ltd – in April 2014 with accomplices Alvin Loo Mun Yu and Jason Koh Chi Kang, both 36.

    The trio never intended to run Volks Auto as a legitimate business, Deputy Public Prosecutor (DPP) Ng Jean Ting said. The men used their showroom at 50, MacPherson Road as a front to fool customers into handing over deposits worth tens of thousands of dollars for cars they would never own.

    They conned 182 victims into handing over S$6,163,772 between May 29 and Dec 7, 2014, making the Volks Auto scam - as it came to be known - “the largest fraudulent scheme in the car industry to date”, DPP Ng said.

    To create the illusion of a legitimate business, Koh arranged for four cars – including a Mercedes and a Porsche – to be displayed in the showroom. The trio also hired salesmen, set up corporate bank accounts and issued sales agreements bearing Volks Auto’s company logo.

    DPP Ng said the trio “were fully aware” their scheme “would unravel at some point, since no cars would be delivered”. So they used “low prices to maximise the deposits they could collect in the window of opportunity they had”.

    The men offered cars to customers at prices too good to be true. “Given the prices of Certificates of Entitlement at the time, the profit margins were too slim for the business to be viable,” DPP Ng said. Unfortunately, the cheating trio were the only ones who knew this.

    Loo, who masterminded the scheme and was the sole director and shareholder of Volks Auto, handed Koh at least S$450,000 for his part in the scam.

    Koh converted part of the cash – about S$351,000 – into casino chips at Marina Bay Sands (MBS) and Resorts World Sentosa. The day before he fled to China, Koh bought S$71,000 worth of casino chips at MBS. He also deposited cash totaling S$100,000 into two personal bank accounts.

    Having cleaned out the company’s bank accounts, Loo left Singapore on Dec 5, 2014. Koh and the other accomplice, Jason Koh, fled on Dec 12, 2014. Clearly, “their departure was calculated and coordinated”, DPP Ng said.

    Koh returned on Dec 23, 2015, after about a year away. He was arrested at the airport.

    Defence lawyer Cheryl Ng, who represented Koh pro bono, said Koh “should be given credit” for returning to “face the music”.

    Ms Ng also pointed out it was Loo who “ran the show”, and that Koh received only S$450,000 out of S$6,163,772, or just 7.3 per cent of the trio’s profits.

    Loo and the other Koh remain at large.

  2. #2
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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    If you see and indian, chinese and snake, please have mercy on the snake and shoot the rest.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by syed putra View Post
    If you see and indian, chinese and snake, please have mercy on the snake and shoot the rest.
    Mud are reserved for druggie security guard uber driver

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Machiam like wolf of singapore street.
    Give them bread and circuses and they will never revolt.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by frenchbriefs View Post
    Machiam like wolf of singapore street.
    U saw them before when u working as a dealer in rws

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    the largest fraud in auto industries is the erp gantry

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Why did the bugger return to Spore

    Was it because he wanted to run another scam that he learned about in China.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by johnny333 View Post
    Why did the bugger return to Spore

    Was it because he wanted to run another scam that he learned about in China.


    Mysterious case. No pictures of the 3 buggers also can.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by johnny333 View Post
    Why did the bugger return to Spore

    Was it because he wanted to run another scam that he learned about in China.
    told you so. every loser sinkie will return to sg to lim kopi.
    6.9 k's of sinkies: kopi, kaya toast, kueh kueh, kio kway, ktv, kpkb.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    cheating above a certain amount should have rotan……. then ppl will think twice

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    is this alvin loo related to that fatty loo that faked his death?

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    ill gotten gains spent, back changi for free meals,medicare and shelter..Gurkha protection to add.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by iluvgst View Post
    is this alvin loo related to that fatty loo that faked his death?

    maybe yes . maybe No.

    no pictures of the 3 con men .

    btw where is ex lawyer Fatty Loo now ???

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by CoffeeAhSoh View Post

    btw where is ex lawyer Fatty Loo now ???
    He died many years ago.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by GoldenDragon View Post
    He died many years ago.
    Hi bro gd.long time no see.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by Ralders View Post
    Hi bro gd.long time no see.
    Yup Long time no sound no picture. Spent time in monastery.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by GoldenDragon View Post
    Yup Long time no sound no picture. Spent time in monastery.
    I tot u huat @ rws

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by Ralders View Post
    I tot u huat @ rws
    Nope I Huat in Thai temple.

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by GoldenDragon View Post
    Yup Long time no sound no picture. Spent time in monastery.
    Monastery ? New HFJ joint ? What a name !

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    Default Re: Man jailed for cheating 182 victims of S$6m in Volks Auto scam

    Quote Originally Posted by Bonut View Post
    Monastery ? New HFJ joint ? What a name !
    Whahawhahahaha

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