I recently read about the Singapore Police probing a company run by Western Australia Pilbara businesswoman Veronica Macpherson. The property investment scheme was heavily promoted in Singapore and Malaysia from 2014 until its collapse in early 2016. It was marketed as a way for overseas investors to get in on the strong Pilbara economy and its demand for housing. High annual returns of up to 18% were promised that failed to materialise. The entire investment operations is now alleged to be a Ponzi Scheme.

I find that Ponzi Schemes have become increasingly complex and sophisticated. They are putting more effort into the marketing campaigns to reel in unsuspecting higher value individuals, especially those located overseas. Although the Singapore authorities continue to educate and warn us about Ponzi Schemes, Singapore investors keep putting money into them. Which is unfortunate and even worse when they end up losing their life savings.

By the way, the …