Over 5 years’ jail for serial cheat who scammed 17 victims of more than $550k in Ponzi scheme, Courts & Crime News & Top Stories

 Over 5 years’ jail for serial cheat who scammed 17 victims of more than $550k in Ponzi scheme, Courts & Crime News & Top Stories

SINGAPORE- A serial cheat who had “shown no moral compunction about enriching himself (by) using deceptive means” – according to the prosecution – scammed 17 victims of more than $550,000 in a Ponzi scheme.

Joel Soon Yong Hao was later charged in court and was out on bail when he committed more offences, including forging a letter purportedly from a deputy public prosecutor from the Attorney-General’s Chambers (AGC).

Details about this DPP were not disclosed in court documents.

On Thursday (Nov 10), Soon was sentenced to five years, two months and 12 weeks’ jail.

The 29-year-old Singaporean was also disqualified from driving all classes of vehicles for three years.

He had been convicted of 20 charges for crimes including traffic offences and multiple counts of cheating.

The court heard that from May to July 2015, Soon operated an investment scam, claiming to be the chief executive and founder of a firm called Scarlett…

Read full article at www.straitstimes.com