Monday, 11 June 2012

We want justice and integrity

Being the genuine client of Profitable Plots, it is very frustrating to follow how the case developed ?

It has been a long 2 years since CAD raided PP. As an investor, we trusted that CAD must have very solid evidence to take such a bold step in Singapore to destroy foreign investment.

We are clever investor and we invested with our eyes wide open, cannot help to think "What's going on ?"

Problem in UK Land ? As a buyer, we have legally binded document

Problem in Philippines Land ? We do trust that the information published on my national newspaper

"Land in the Philippines was signed on Aug 4, 2010; was notarised in Singapore on Aug 5, 2010; was witnessed and sealed by the Philippines Embassy in Singapore on Aug 6, 2010; was sent to the Philippines on Aug 7, 2010, and arrived in the Philippines on Aug 10, 2010."

Problem in Boron ? Whoever buy the product, CAD can show them their goods, ie there are actual goods in Singapore.

So What is going on ??

As an investor, again we "try" to trust CAD, and then you read things like...

 "SINGAPORE: The Commercial Affairs Department (CAD) is at an "advanced stage of investigation" into 229 complaints made against Profitable Plots Pte Limited (PPPL), a District Court heard Wednesday morning. - Apr 2011

The complaints were from investors alleging that the company had cheated them into investing various sums of monies, totalling about S$23.5 million, in various schemes promoted by Profitable Plots." - Apr 2011


After ANOTHER LONG YEAR...

SINGAPORE - Three directors of beleaguered land banking firm Profitable Plots were each charged with 86 criminal counts of cheating investors of US$2.4 million on investments related to an industrial lubricant called Boron. - Apr 2012

John Andrew Nordmann, Timothy Nicholas Goldring and Geraldine Anthony Thomas were each charged in Singapore's Subordinate Courts with abetment for conspiracy to defraud 86 investors, according to charges brought on behalf of the Commercial Affairs Department by Kevin Yong, deputy public prosecutor for the Attorney-General's Chambers. - Apr 2012


Is it Great Singapore Sale or what ? From 229 compaints down to 86 investors, from S$23.5 million down to US$2.4 million ? And that takes 2 years ???? Put the PP Directors to jail, and still cannot produce evidence of the charges ? Heard that public Prosecutor asked to postpone for another 4 weeks, put people to jail and still cannot produce solid evidence of the charge.

THEN YOU FOUND OUT...

Worst rumour that make us "boiled", now the 86 investors will be down to less than 20 ?? So logically, we asked the question "Is it 86 criminal counts of cheating investors of US$2.4M ?" or "Less than 20 counts that amount to far below S$1M ??".

We cant help but wanted to find out about who are the 86 investors ? or the 20 investors ?

WHAT IS GOING ON !!

Since the job of the Public Prosecutor is to protect the public interest. May I suggest you support us (citizen of singapore) with your public services values of Integrity, Professionalism and Services Excellence !

Since we are not stupid invesors, this is our suggestions :

A. Since CAD likes to investigate, INVESTIGATE THEM TOO ! Being professional means you will need to check all your evidence are really true !! Having integrity means, if it is not true, you dont cover up. Because we will not settle with any cover up from my respected Public Service Officers.

B. CHECK ALL YOUR 86 or 20 Clients too ! Make sure you are not being 'conned'. How can such a big case narrow down to just only 86 or 20 clients ?? If I were PP, just selling the philippian land will settle all thousands of clients, why cheat the 86 or 20 clients? They must be very special type of clients, I think !! Isnt logically to find out how special are these 86 or 20 clients ?? Interview them, talk to them !! Please do  uphold public services standards ? Make sure your data are accurate, how can the charge be 86 cases and now down to 20 ? What is going on ??

C. Since CAD/Public Prosecutor charged PP with the 86 or 20 investors, put all of them on hearing and close the case as soon as possible, that is service excellence, 2 years is very long, we as investors want to move on !! Why postpone the case from Jul/Aug to Sep/Oct ? Dont you have all the information with you already, else how can you charge and put them to jail ??

D. By the way, even if you make a mistake, it is also acted out of public interest, we will not complain, because there is a possibility that you are just being misled by the 86 or 20 clients, it is ok ! We are still happy because we will get back our monies.

We want Justice ! If PP is cheat, take them to court asap, why wait ???

However, if there are no strong evidence and we trusted that with the sales of Philippian Land we will get back our investment, but we are struck with no good reason. We as genuine client of  Profitable Plots will raise this issue to higher level. Because we strongly believe in our Government !

PP Investors

2 comments:

ylikethis Teo said...

I did my research on the Philippines Land Sale

The following has been reported:
3rd August PP signs contract to sell a piece of land in the Philippines for 5bn pesos
(SGD$160,000,000). The first payment from this contract was due 7 days later.

This sale would have meant me and other PP clients being paid.

4th August Contract is witnessed by a Singapore Notary Public then delivered to the Philippine Embassy in Singapore to be witnessed and sealed.

6th August Contract returned by Philippine Embassy to PP and sent to The Philippines.

9th August Contract arrives in Philippines.

10th August Public holiday.

11th August CAD raid PP offices; freeze bank accounts thus stopping payments to clients; and remove all documentation – except the contract to sell the land in The Philippines.

What’s going on?

Surely CAD and Public Prosecutor can verify all these. If true, what should they do to protect public interest, investors like us. Otherwise, prove PP's wrong and these are you solid evidence.

May the truth reveal !! We want the truth !

Anonymous said...

I have been gradually disillusioned by Singapore change of policies, imported foreign talents scheme, departments of government "serving" their citizens and we are collateral damage.

News of Former Central Narcotics Bureau (CNB) director Ng Boon Gay, SCDF chief Peter Lim Sin Pang, two senior employees at the Singapore Land Authority (SLA), Lim Cheng Hoe Chief of Protocol at the Ministry of Foreign Affairs, 455 clerical officers committing fraud amounting to more than $600,000, let us hope that Corrupt Practices Investigation Bureau (CPIB) know what they are doing. There is a Chinese saying don't stir a clean bowl of soup with a dirty palm.

Numbers are numbers. eg:- "48 men are charged and 80 men have been implicated in the case. More charges are expected to be filed." They should be justified before released. You can't adjust from 299 down to 86 down to 20 charges. 2.4mil down to 1mil in investors money and the constant public Prosecutor asked to postpone to buy time for what? A cover up? Are the departments involved in co-hoot? I want visibility, Olympic is here. Pounds strengthened. I am impatient.