Im a local guy in my late 30s, working in IT. I thought I was smart with money. I had savings, insurance policies, even some CPF investments. But one mistake nearly destroyed me.
Last year, I met a siam bu who introduced me to a so-called “licensed financial advisor” who said he could double my investment in just six months. He claimed he helped “high-net-worth” clients grow their funds through property deals in Thailand. The presentation looked professional, he showed documents, photos of condos, and even an “official” looking business license.
So I flew over and invested.
At first I didn’t want to touch it. But he said, “If you don’t dare to take risk, you’ll always be stuck working.” That hit me hard.
So I took a $50,000 loan from a legal money lender. I didn’t want to empty my savings or disrupt my insurance contributions. The plan was to repay the loan within six months after the supposed 100% profit.
Everything went well for the first two months – monthly updates, smooth communication. Then, suddenly, silence. No replies. Website down. Office disappeared.
That’s when I knew – I was scammed.
Now I’m stuck with a high-interest loan, no savings, and no investment. Every month, I pay nearly $1,800 to cover just the interest. My mental health is collapsing. I don’t dare tell my parents. My girlfriend left after I admitted I can’t afford our BTO.
If you’re reading this, don’t be like me. No matter how “good” the deal looks, never take a loan for investment, and always check MAS registers. Don’t let greed or “influencer confidence” cost you your future.