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Business owner cheats 9 people out of their investments, then steals $260,000 to pay them back

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SINGAPORE - A business owner promised investors returns of up to 70 per cent each year if they invested in his food business venture.

Alvin Goh Shu Min, 41, cheated nine investors aged between 40 to 69 of about $160,000, which he used for his personal expenses.

The court heard that between 2017 and 2018, Goh advertised online for investors willing to invest at least $20,000 to open a franchised outlet of fArt tArtz cafe, Deputy Public Prosecutor Melina Chew told the court. DPP Chew said Goh admitted that the money was"dishonestly misappropriated" to cover the expenses of his other businesses and his own personal expenses.

He eventually stopped replying and several partners reported the matter to the police in January 2019. No restitution had been made since, the court heard. Mr Wong called the police, who arrested Goh at a hotel room the next day. $224,550 was recovered, said DPP Chew.

 

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Smart guy but did he get caught or he's the Houdini

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