A 28-year-old Singaporean man, Pi Jiapeng, and his 28-year-old Thai wife, Siriwipa Pansuk, previously found themselves embroiled in a high-stakes scandal back in 2022.
On Thursday, October 5th, they were hit with a fresh set of charges, including fraudulent trading and cheating – Pi faced 2 new charges for fraudulent trading and not exercising due diligence as the director of the company Tradeluxury, while his wife Siriwipa faced a whopping 168 new charges for cheating and fraudulent trading, according to Channel NewsAsia.
This scandal revolved around their alleged involvement in a multi-million-dollar luxury goods scam. Over a span of a few months, Pi reportedly collected an astonishing S$24,782,798 in payments for luxury watch orders, despite knowing that their company, Tradenation, had no reasonable expectation of fulfilling these orders due to its precarious financial condition.
A Closer Look at the Charges
Pi Jiapeng’s Allegations
Pi Jiapeng, aged 28, has been accused of fraudulent trading. He faces this charge alongside another for failing to exercise diligence in his duties as the director of Tradeluxury.
Between March 1, 2022, and June 19, 2022, Pi Jiapeng and his wife, Siriwipa Pansuk, are alleged to have knowingly carried out fraudulent activities under the guise of Tradenation, primarily involving luxury watch orders.
Shockingly, they managed to collect payments totaling a staggering S$24,782,798 from customers, despite being aware that Tradenation was financially incapable of fulfilling these orders.
The charges levied against them fall under the Insolvency, Restructuring, and Dissolution Act 2018.
Siriwipa Pansuk’s Involvement
Siriwipa Pansuk, also 28 years old, faces two charges of fraudulent trading in addition to 166 charges of cheating.
Her fraudulent trading charges extend beyond luxury watches, as she also stands accused of taking orders for luxury bags and collecting payments amounting to S$946,948 from Tradeluxury customers between March 9, 2022, and May 3, 2022.
These actions occurred despite her knowledge that the company lacked the means to fulfill these orders, making her culpable under the same act as her husband.
Negligence in Duty
In another twist to the legal saga, Pi Jiapeng faces an additional charge for failing to exercise reasonable diligence as director of Tradeluxury.
It is alleged that he neglected to supervise the affairs of the company, allowing it to continue its operations with fraudulent intent between March 9, 2022, and May 3, 2022.
This negligence adds to his legal woes, compounding his total charges, which now stand at seven, including cheating, failure to sign a statement, and leaving Singapore without presenting his passport.
The Legal Proceedings
The accused couple, Pi Jiapeng and Siriwipa Pansuk, are scheduled for a pre-trial conference on October 11th. This critical phase of the legal process will determine the direction of their cases and the potential consequences they may face.
Recap
27-year-old Singaporean Pi Jiapeng and his 28-year-old Thai wife, who scammed victims of $32 million related to luxury goods, were charged in court back in 12 August last year.
The couple were initially each given 2 charges of cheating, as well as an additional charge of illegally leaving Singapore.
The scam duo appeared in court via a video link and their charges were then read to them.
Pi, wearing a dark green shirt, spoke in English and told the court that it wasn’t right for them to leave Singapore illegally.
His Thai wife, Pansuk, wore a black top and spoke via a Thai interpreter.
Pi said that they were facing surmounting pressure at the time and received death threats, as he apologised and said that he and his wife will “do (our) best with the Singapore Police Force and investigations.”
The two were remanded for one week, with District Judge Brenda Tan agreeing with the prosecution that the couple were proven flight risks.
Caught in JB
Pi Jiapeng, a 26-year-old Singaporean man, and Pansuk Siriwipa, a 27-year-old Thai woman, who went missing after they were involved in a purchasing scam of luxury goods such as watches and designer bags worth at least $32 million has been arrested in Johor Bahru.
According to CNA, the couple who was arrested in Malaysia was handed over to the Singapore Police Force at around 6pm on 11 August last year.
Their escape from justice was short, only 5 weeks before they were caught.
Many netizens applauded the arrest of the couple who are suspects in a series of alleged cheating cases involving luxury products in 2022.
They have since been arrested and brought back to Singapore on 11 August 2022 to face charges of criminal conspiracy to commit cheating and illegal departure from Singapore.
On the run for 37 days
Previously, it was believed that the couple had escaped to Thailand.
On 10 August 2022, the SPF received information from the Royal Thai Police that the couple may be putting up at a hotel in Johor Bahru, Malaysia. The SPF immediately sought the assistance of the Royal Malaysia Police to locate the couple.
According to Shin Min Daily News, the couple was caught checking in at BookMe Hotel, a budget hotel that cost RM69 which is around S$22 a night.
The couple were seen sitting on a bench outside the hotel while the Police who were in plain clothes confirmed their identification before making the arrest.
Photo of the hotel they were staying at
Pi Jiapeng (‘Pi’) and Pansuk Siriwipa (‘Pansuk’)
The Royal Malaysia Police executed the Warrant of Arrest in Johor Bahru on 11 August 2022. Pi and Pansuk were handed over to the SPF on 11 August 2022.