S'pore property agent jailed 3 months after promoting Australia housing scheme that lost investors S$16 million (opens original article in a new tab)

A Singapore property agent was jailed for three months after promoting an Australian property investment scheme that resulted in 347 investors losing S$16.21 million.

• A Singapore property agent was jailed for 3 months after promoting an Australian property investment scheme that caused 347 investors to lose S$16.21 million.
• The agent's company operated without a required Capital Markets Services licence from MAS, violating the Securities and Futures Act.
• The investment scheme, which promised high returns, involved false claims about government support and site inspections, leading to significant financial losses.