Case Study #001: Investment Scam

Our client engaged JMS Rogers for recovery efforts from an investment scam that he thought that was legit.

Without hesitation, we set the earliest possible date to meet and go through all the documents and correspondences between our client and the scammer.

From our initial briefing to our onboarding team and investigations team, he was promised a high percentage of returns to be paid monthly. He invested the total sum of SGD$250,000. He signed contracts and made the transfer.

He was promptly receiving the returns monthly but after five months, he stopped receiving the returns. He immediately called the person in charge that he liaised with but the mobile number was not in use and tried many other ways to no avail. He began having sleepless nights as he felt that all was lost.

After his engagement with us, we studied our client’s case even deeper over two weeks and began to realise there were many red flags as to the dynamics of the investment.

Through our research and investigations, we found out that the bank account number given to receive the investment belonged to an individual and not corporate account. That is a clear breach of the contract terms that were set.

We also found out that the company was a fraud in which the director of the company was a front for an undischarged bankrupt to run the operations.

We informed our client about these findings, and some other details to why the whole investment was a scam.

We continued with our investigations and in due time, we located the scammer involved. As with many other cases that we have worked on in the past, the debtors gave all sorts of reasons and justifications why the debt did not exist and even threatened legal action and reporting us to the police for trying to collect a debt that did not exist. However, such reasons will never deter us in the pursuit of recovery, as we are working within our legal rights.

At this point, we advise our client on certain steps to be taken and eventually, the debtors have no choice but to acceded to the repayment plans that were demanded due to the fact that their entire ruse has come to light.

Over the next 6 months, we managed to recover the invested sum and our client was able to start having a peaceful life moving forward.

What can you learn from this:

1. Always do enhanced due diligence on any investments that you go into. Dig deep. Ask as many questions as you need to.

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