Kenneth Kam Boon Hee promised 14 investors a monthly interest rate of 3 per cent in return for loans.
Kenneth Kam Boon Hee was the director of several companies including Kenn Capital, Kenn Organisation International and Kenneth Kam Pte Ltd. SINGAPORE: A man who posed as a forex trader was sentenced to 10 years’ jail on Monday for running a S$5 million Ponzi scheme that ensnared over a dozen investors, the police said.
“On this basis, the victims lent money to Kam for him to trade in forex in order to generate profits,” police said. “In total, he was charged with 340 cheating charges involving amounts of more than S$16 million and four charges of transferring benefits from his criminal conduct,” police said.
Singapore Police Force Court Cheating
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