Many of you will be curious as to how Mr Tan (Tan ah Chai) have manage to amassed so much cash in just a 2year period. This is how ?
His accomplice we shall call him M. Goes around bragging to people that his SBLC and Time demand draft is real. Saying that the person supporting it behind a something something dragon group from Thailand. Goes around asking for an upfront fee of USD500K before they are able to issue a SBLC to your bank account.
As for the time demand draft thing, they would require someone to put in USD500K to get USD1.5M in 90 days when the money drops. Of course this never happened. And all the funds that was given to Mr Tan is kept in his corporate account here in Singapore. All these turn out to be one big lie. M supposingly is also a victim which we cannot confirm yet because he never went ahead to sue Tan for his losses.According to M, he said Tan have cheated him of 800k from him and his proxy director. Besides that he didn’t even pay up his legal fees to his lawyer who have done all these work for him.
And more interestingly, M have borrowed some 80K from moneylenders but never did repayment back to them. I am sure there is many unhappy out there with M right now. From all these information, we can’t conclude that M is actually a victim. Since we all know that the funds that went to Mr Tan went directly into a company call Coastal Asia Holdings Pte Ltd. Which is just a shell company that goes around conning people for more money.
So people never believe anyone who ask for any fees upfront. All these are deem as Advance fee Fraud. And the CAD could very well check into these illegal activities run by these dubious characters.