Kenneth Kam Boon Hee was sentenced to 10 years’ jail on Dec 16. - ST
SINGAPORE: A businessman posed as a successful forex trader – and even published books and magazines to establish his credentials – to dupe 13 people into handing him more than S$4.6 million (US$3.4million) in total.
Kenneth Kam Boon Hee, 57, ran a Ponzi scheme where his victims were promised a monthly interest of 3 per cent on their loans to him but were paid with monies from other victims, instead of forex trading earnings.
