Another one has emerged:
The Monetary Authority of Singapore (MAS) has placed EcoHouse Group - an overseas property development firm which specialises in the construction of investor-funded housing for Brazilian families - on its Investor Alert List (IAL).
The IAL is a list of unregulated entities that may have been wrongly perceived as being licensed or authorised by MAS.
Since September 2011, EcoHouse has attracted more than 1,500 local investors, with a total investment sum of S$65.55 million, to its Brazilian property development projects.
Source: The Business Times, 7 July 2014.
"The Company's CEO had invited investors to keep their minimum capital outlay with EcoHouse for three years rather than one and receive immediate 20% returns. Although investors were under no obligation to accept the longer term, there was reportedly an overwhelming response to the offer. The investment was also supposedly endorsed by several prominent local property websites and investment group." ...
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