Despite her companies' dire financial situation, Pansuk Siriwipa continued to pay herself S$10,000 a month and bought a S$2.4 million house in Bangkok for her mother.
Despite her companies' dire financial situation, Pansuk Siriwipa continued to pay herself S$10,000 a month and bought a S$2.4 million house in Bangkok for her mother.
They were later arrested in Malaysia and taken back to Singapore to face the music, with the amounts across Pansuk's fraudulent trading charges spanning over S$25 million.Pansuk and Pi, who got married in September 2020, started a business called Tradenation, selling luxury watches in Singapore, in May 2021.Pansuk was the main decision-maker for both companies, communicating with customers, sourcing for suppliers and arranging for goods deliveries.
The funds from pre-orders of bags under Tradeluxury were used to fulfil the orders for watches for Tradenation's customers, and customers were occasionally asked if they wanted to consign purchased goods to the company for sale and"roll" the revenue into their next purchase.Despite this, Pansuk continued taking orders, cheating customers who made payments for pre-orders.
Pi was arrested on Jun 27, 2022, and released on bail. His passport was surrendered to the police as one of the bail conditions, and Pansuk's passport was also handed to the police under a different order.
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