Scammers have once again used the photos of billionaire Peter Lim to impersonate him and the scams offer stock trading advice.
The Police said that a Police report has been made.
In 2019, scammers also used his photo to impersonate and endorse bitcoin and other investment products that are a scam.
According to Forbes, Peter Lim is a self-made billionaire who has businesses in sports, investment, hotel, medical and others.
According to Today News, two Police reports has been filed on June 20 and August 2.
How the scam looks like
The scammers would use the photos of Peter Lim and mass send out messages to targets and cheat their money.
Here is a snippet of the Telegram message impersonating Peter Lim:
“Welcome new friends to Finance Stock Market, an exclusive section for your personal stock finance, with daily morning, midday and evening broad market analysis, recommended must-earn stocks, and analysis of stock issues. It gives you the most direct and intuitive way to watch daily market movements, avoid bear markets, seize bull market upside opportunities, and get great returns from the stock market.“
“retail investors lose money because they have no investment direction, or because they cannot grasp the precise buying and selling price, or go against the trend, or buy stocks recommended by friends and teachers. You don’t have to worry anymore, pay attention to the information shared by the group, take you out of the predicament, and complete the compound interest. I am confident that I will lead you to earn 1 million SGD within half a year, provided that you do not operate arbitrarily without authorization, and I can guarantee the income by following my instructions.“