Tradenation luxury goods scam: Couple remanded further as prosecution seeks more time for investigations

[TerrexLee]

The prosecution on Friday (Aug 19) requested more time to investigate the couple who were allegedly involved in a multimillion-dollar luxury goods scam.


Singaporean Pi Jiapeng, 26, and his wife, 27-year-old Thai national Siriwipa Pansuk, are accused of deceiving Tradenation customers into paying for luxury watches they did not intend to deliver.


They are also accused of cheating customers of their other luxury goods firm Tradeluxury into buying luxury handbags.


Describing the case as "complex", the prosecution requested that the couple be remanded at the Central Police Division for an additional week for investigations.


The case involves losses of more than S$20 million and more time is needed to determine the whereabouts of the funds, the prosecution said.

More at http://fy9.ln/YCV964

 

[Leongsam]

Poor things I really feel sorry for them.

 

[mojito]

More time? Looks like some bodies slacking off on their jobs when the scammers were on the run.

 

[laksaboy]

Indonesia or Philippines would have been better destinations to escape to, their police are less diligent.

 

[Willamshakespear]

The couple do not have just a few dollars, but tens of millions scammed from innocent victims. These are huge sums, & even if spent on properties, goods & services, there will still be substantial left over. Who were their accountants or their computer data software to keep the sums accounted & tracked? For sure, these are smart & intelligent people, whom are aware that if they deposited money in banks, local or offshore, it can be easily traced, even crypto funds as the blockchain accounting for each transaction is listed, & thus would be avoided.

In the past, most would keep their money hidden at home, under secret compartments. But in this modern age where there are many wharehouses that had converted into offering Personal Storage Spaces, of sizes from mere shoe box to bedroom size, it would be far easier to hide such funds & goods there for use when needed. Such commercial spaces are usually registered in one's own name for security. Perhaps the couple have many of such spaces, either registered under their names or under their closest & trusted family member, relative or friends name, both local & overseas such as Malaysia & Thailand?