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Reader says...
I have been very sad and disappointed with these alternative investments that we had ventured with stupidity.
Like the Chinese sayings goes, for really good deals, "there is no such golden duck jumping around on the street". In other words, there is no such good deals.
If that is the case, why is our government still not educating people well about alternative investment, seeing a lot of them got their fingers burned due to such dodgy business.
We invested into alternative investment by XXXXXXX Holdings and got engaged with an agent from XXXXXX Solution Management Pte Ltd, a vendor of XXXXXXX Holdings contracted to do sales and marketing for their alternative investments products.
In total I have $71K invested.
We only received $10K and no payout since Nov 2016.
I wanted to report to the police many times, wanted to engage a lawyer to sue them for breach of contractual agreement and not paying up per contract.
But I was advised against this by the agent saying that law suit cases will delay the process to get back some money from these investments.
I had requested from the agent to share with us the list of investors that had been affected and maybe we can write some letters to MAS, the newspapers or to the police to warn the public regarding such scams and cheats, but the agent refuse to provide.
She said it was not a scam or fraud, just bad investments.
Sometimes I believe we need some authorities to know and take action on our behalf or at least for general public to be aware of such companies and be cautious about investing their monies with them.
Appreciate your advise and anyone who can enlighten my worries.
AK says...
I believe I blogged about XXXXXXX before.
Unfortunately, there isn't much you can do apart from seeking legal advice and let the law take its course for whatever it is worth.
I believe there is little MAS can do to help you either because these "investments" are not regulated.
I feel your sadness and I hope you will be able to recover some capital.
Read related post at the end of this blog and know what questions to ask when offered such "investments". Read its comments section too.
Related post:
Invest $10,000 and get 24% yield!
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