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How come those named Wendy are often Chio?
She promoted an overseas property investment scheme that later collapsed, now a Singapore property agent is heading to jail.
Wendy Kwek, 55, was sentenced to three months' jail after pleading guilty to allowing her company to deal in securities without the required MAS licence. The scheme resulted in 347 investors losing a total of S$16.21 million.
Before reporting to prison on Jul. 10, she posted an apology on Facebook, saying she had acted in good faith and wanted to help people grow their wealth, but admitted some investments "did not turn out well". She also said the experience taught her the importance of understanding legal and regulatory requirements.
Not everyone accepted the apology. One investor told Shin Min he paid for her course before investing in a Philippines property project that was never completed.
Do you think good intentions should matter when investors end up losing millions?
This is Truly SG
Full article on: Mothership
She promoted an overseas property investment scheme that later collapsed, now a Singapore property agent is heading to jail.
Wendy Kwek, 55, was sentenced to three months' jail after pleading guilty to allowing her company to deal in securities without the required MAS licence. The scheme resulted in 347 investors losing a total of S$16.21 million.
Before reporting to prison on Jul. 10, she posted an apology on Facebook, saying she had acted in good faith and wanted to help people grow their wealth, but admitted some investments "did not turn out well". She also said the experience taught her the importance of understanding legal and regulatory requirements.
Not everyone accepted the apology. One investor told Shin Min he paid for her course before investing in a Philippines property project that was never completed.
Do you think good intentions should matter when investors end up losing millions?
This is Truly SG
Full article on: Mothership
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