Hi Mr. Tan,
I would like to inform you of this company which I believe may be a potential scam.
Recently, I was approached to invest money with this organisation called XXX which trades in forex. The person promised me 3% return EVERY MONTH, which I feel is too good to be true.
If you do a quick Google search, the company seems to have quite a good media team to portray themselves as a successful start-up. Their boss has also been donating alot of money to charity and taking photos with Halimah Yaccob.
However, it also seems that the company is on the MAS Investor Alert List
So I did more research by obtaining a business file and realised that the company is registered as having "office administrative services on a fee or contract basis" as its primary activities.
Worse, it is not even audited which is a BIG red flag for a company supposedly in the financial services.
I am not sure what you think about this but it is quite shocking that the regulators would allow such an organisation to exist!
REPLY
I agree with you.
I would like to inform you of this company which I believe may be a potential scam.
Recently, I was approached to invest money with this organisation called XXX which trades in forex. The person promised me 3% return EVERY MONTH, which I feel is too good to be true.
If you do a quick Google search, the company seems to have quite a good media team to portray themselves as a successful start-up. Their boss has also been donating alot of money to charity and taking photos with Halimah Yaccob.
However, it also seems that the company is on the MAS Investor Alert List
So I did more research by obtaining a business file and realised that the company is registered as having "office administrative services on a fee or contract basis" as its primary activities.
Worse, it is not even audited which is a BIG red flag for a company supposedly in the financial services.
I am not sure what you think about this but it is quite shocking that the regulators would allow such an organisation to exist!
REPLY
I agree with you.
16 comments:
what company is this? 3% return every month?
mind sharing the company name?
are you referring to this guy. He is on the MAS Investor Alert list
http://www.mas.gov.sg/IAL.aspx?sc_p=K
Kenneth Kam / Kenn Organisation / Kenn Group
Company address:
10 Marina Boulevard
Level 39 Marina Bay Financial Centre Tower 2
Singapore 018983
Website: http://www.kenn.org/
Tel: +65 6818 6358 / +66 9 1865 5585
Emails: info@kenn.org; ken@fx2.asia
ah... this flamboyant man, Kenneth Kam!
if you talk about Kenneth Kam, I think a lot of businessmen or referral will receive his potential scam proposal, exactly as mentioned by the original person who posted this.
well, at least the MAS did a good job to post Kenneth Kam on MAS Investor Alert list to warn others. It will have to depend on the people to do their due diligence to ask, check and confirm, if it's too good to be true, it probably it!
sometimes, unscrupulous people are hard to kill, just like cockroaches. you kill them once, they will come back with another name. the best we can do is to take precaution and be careful with investments.
Anybody who wants to do some research on this Flamboyant guy, can type his name on google and can see all the comments.
An interesting one is here : https://www.glassdoor.com.au/Reviews/Employee-Review-Kenneth-Kam-RVW21731231.htm
Or some other comments online.
He has been arrested
Is it true he has been arrested?? Came upon this video on youtube, wondering if its true https://youtu.be/vwTRMuUmAK0
My relatives invested in his 3% scheme... referred by another family member...
Hi I was just approached by his associate on an investment, when was Kenneth Kam arrested?
In april and is out on bail.
a lot of people has money stuck with him cos account is frozen.
However, he is trying to start another fund.
I would suggest that you make a police report on the proposal and let the police advice you. Best is to hear from authorities if a scheme is legal and not from the person promoting it
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Our family invested quite a considerable amount in this forex ponzi scheme which has brought us great hardship and financial ruin.
We are unable to pay the hospital cancer treatment for my ailing mother in law and my children's school fee, and have to resort to loans from friends and credit card to fund the shortfall.
Kenneth Kam has an accomplice James See, a conman and scammer.
If you google Kenneth Kam, his method of operation is by adding credibility to himself by donating to charity, giving scholarships, going for high society events dressing well, he even published a book and videos on creating profits from forex trading when all it is/was a ponzi scheme. Full of lies and deceit to cheat the public of their hard earned money. James See is still running around using the same methods and taking group selfie shots to add to his credibility.
It sickens us that the money he cheated the public was used to fund his extravagant lifestyle with lavish partying and overseas trips. James See is similarly doing the same, left unchecked to scam people into giving him money for bogus investments.
https://www.police.gov.sg/media-room/news/20200310_others_man_charged_for_cheating_in_relation_to_a_multi_million_loan_programme
It's a disgrace that such scammers are allowed to operate in Singapore and not brought to justice.
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