https://www.channelnewsasia.com/singapore/s...t-fraud-2591016In fact, Triumph Global and Union Markets were not connected to a single liquidity provider to trade foreign currency, and did not hold any capital markets licence to carry out leveraged foreign exchange trading, argued the prosecution.
By May 2015, Singliworld's liabilities had exceeded US$17 million (S$23 million).
"In reality, there were no such genuine traders, no such genuine trading, and no such genuine trading returns," said the prosecution.
"Investors were sent daily statements falsely purporting to show that the trades therein had genuinely taken place."
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https://www.slideshare.net/JeffreyYong/sing...x-english-shortstill need to argue and feed the trolls? the ponzi will fail soon, a tycoon in PJ malaysia already invested RM18.7 million (4m usd) into ghost traders nicolay and yuri, dont think they will ever let him get back these massive gains
an uncle who invested $300 usd 15 months ago into triumphfx tried to withdraw yesterday after his agent came to pursuade him to invest more, today his triumphfx app cannot connect to the server, showing only balance and nothing else.