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"The market is not your mother. It consists of tough men and women who look for ways to take money away from you instead of pouring milk into your mouth." - Dr. Alexander Elder

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Tuesday, 27 March 2012

Smart Money Grabbers over dummy investors (5)

Read? Smart Money Grabbers over dummy investors - IV

SINGAPORE : Three directors of investment firm Profitable Plots were charged on Tuesday with conspiring to cheat investors of US$2.4 million.

They are Britons 58-year-old Timothy Nicholas Goldring and 53-year-old John Andrew Nordmann, and Nordmann's Singaporean wife, 44-year-old Geraldine Anthony Thomas.

The trio, who allegedly committed the offences between 2008 and 2010, were charged with 86 counts of abetment by conspiracy.

They allegedly duped their victims into investing in a scheme to buy a product, Boron CLS Bond, a chemical-based lubricant technology.

The victims were then allegedly deceived into forking out between US$2,000 and US$300,000 each time.

Their case will be mentioned again on April 10.

For abetment by conspiracy, they could each be jailed up to 10 years and fined.

- CNA/ms

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