According to the Channel News Asia, up to 1,500 investors in Singapore could lose a staggering $70 million after Brazil Embassy denied that property firm EcoHouse Group has any links with the Brazilian government. Apparently, EcoHouse had claimed to be working with the Brazilian government on a social programme and even promised fixed return of 20 per cent for a one-year investment contract. However, EcoHouse abruptly shut down its Suntec offices and many investors complained that they have not gotten their returns despite maturity of their contracts. In addition, some investors have begun legal actions against the company and the Monetary Authority of Singapore (MAS) had placed the company on the Investor Alert List.Whenever I come across such articles, I feel sad for fellow Singaporeans. This is not the first time that Singaporeans fell prey to a money scam. A few years ago, many Singaporeans also lost millions ...