Hi Mr. Tan,
A year ago, I made a wine investment with a local company called (name deleted). They told me that I could see good returns after holding the wine for three years. I checked the materials online and learned that many people have been holding the wine and this company has not sold of the wines for them yet.
I went down to their office and told them that I wanted to sell off my wines immediately. They said that I must hold the wine for 3 years. I argued that there was no such terms in their contract. They then said they would help me to sell the wine off. I threaten to bring the matter to CASE but they replied that other investors had already done so, to no avail.
I just can't believe they are operating like a legalized "scam" company. As long as they get their sale done, they don't bother to look after the investor, and would only call to sell more wine with promises of high returns.
They are still giving seminars and talks at Suntec at an investment expo. Many elderly folks are being cheated. hope you would be able to advise me on what I can do.
REPLY
Many people are caught in this type of situation. You can make a police report, if you feel that they have cheated you. But, I do not know what else you can do.
Unregulated investment!!!!!! gone with the wind, liao...You are NOT alone. There are many who kenna conned.
ReplyDeleteReport to police and NOT MAS if you think you were cheated into investing.
I'm just puzzled.. why people are still being conned after so many years of media publicity on dubious scams..
ReplyDeleteGlamorous investments in Landbanking, wines, gold, etc., and these people got caught, and then howl for help. Think if someone comes over to sell black tulips as an investment, these people would still plunge in, as if Singapore, being a financial centre, is void of any other legitimate sources to put our money in use.
ReplyDeleteBy the way, have seen black colored tulips before in Yunnan, and they are really beautiful.
all down to one word: greed!
ReplyDeleteit is not unregulated, there are ISO certified company and won Business performance award, from Australia. It is very serious. The local and expat. executives had a very high turn over.
ReplyDeleteIts start with very nice approach and promise the investment will give profitable return, once auctioned at China.
Everybody hope monay can grow some where or in good use, they come into the market had difference objective that they may get rich by telling lie from 1 story to another.
I hope Singapore Govt. may investigate into this investment scheme immediately, otherwise another Lehman.
On the blogs, i seek assistance from who may know which Govt. department to report to ?
Thank You.
p/s : blogs is good place to voice out but be responsible for what U say.
This just reaffirms the need to research before investing, I think. I've been researching investment options for different wines in Latin America and have found this website really helpful. There is a wealth of information on different alternative investment industries.
ReplyDeletehttp://www.alternativelatininvestor.com/114/wine/the-newest-designer-labels...-in-a-glass.html