Some people fake it till they make it.
Others apparently fake it till the police arrive.
A 31-year-old Thai man is accused of posing as a wealthy business tycoon in Singapore, convincing victims to hand over nearly S$400,000 through investment schemes and luxury watch deals — despite allegedly having just S$32.23 sitting in his bank account.
That’s roughly enough for a few meals at a hawker centre, but apparently still sufficient to cosplay as a millionaire.
The man, identified as Daichi Khamkrasin, now faces multiple criminal charges including cheating, criminal breach of trust and forgery, Shin Min Daily News reported.
While most millionaires show off private jets, luxury cars and investment portfolios, prosecutors say Daichi’s financial empire was held together by forged documents, empty promises and what appears to have been an impressive amount of confidence.
From S$32 To S$1 Million — With The Power Of Photoshop
According to court documents, Daichi allegedly convinced a Japanese restaurant owner that he had access to an exclusive investment opportunity involving U.S. stocks.
Not just any investment opportunity, of course.
This was supposedly the kind of secret insider deal that somehow only one man with S$32 in his bank account could access.
Daichi allegedly promised returns of 30 per cent, telling the victim that the profits could easily cover family expenses and even help fund a future restaurant venture.
Naturally, because nothing screams “trusted financial adviser” quite like someone you met while discussing opening a restaurant.
The victim and his wife eventually invested S$88,000.
When repayment day arrived, however, the money appeared to have adopted the same strategy as Daichi’s wealth — it vanished.
Millionaire On Paper, Hawker Budget In Reality
As pressure mounted from investors demanding their money back, Daichi allegedly unveiled his most powerful asset.
Not cash.
Not investments.
A forged bank statement.
The document allegedly showed an OCBC account containing more than S$1 million.
The only problem?
Investigators later discovered the account contained just S$32.23.
That’s not a typo.
The difference between his claimed wealth and actual balance was approximately S$1,025,119.
At this point, the forged statement may have been worth more than the account itself.
Prosecutors said the document was entirely fabricated and designed to convince victims that repayment was coming soon.
Spoiler alert: it wasn’t.
Luxury Watch Never Existed, But The Spending Did
In another case, Daichi allegedly persuaded a woman to invest more than US$241,000 in a luxury Richard Mille watch.
For those unfamiliar, Richard Mille watches are among the most expensive timepieces in the world and are often worn by billionaires, celebrities and professional athletes.
Unfortunately for the investor, her money allegedly ended up funding something much less glamorous.
Instead of buying the watch, prosecutors say Daichi transferred part of the funds into his personal accounts and spent it on himself.
The watch never appeared.
At least time wasn’t wasted learning a valuable lesson about sending six-figure sums to self-proclaimed tycoons.
Bankrupt Billionaire Energy
The court later heard that Daichi has since declared bankruptcy.
Which, depending on how you look at it, may be the most believable part of the entire story.
His lawyer argued that he is a first-time offender and has since repaid some of the money involved.
Prosecutors are seeking a jail sentence of between 25 and 31 months, along with compensation for remaining losses.
The case has been adjourned until July 29.
Meanwhile, financial experts continue to remind the public that if someone promises guaranteed returns, claims to have exclusive insider access and flashes documents showing millions in the bank, it may be worth checking whether the account contains more than the price of a McDonald’s meal before transferring your life savings.
Because apparently, in 2026, having S$32 in your account doesn’t stop you from living the millionaire lifestyle — as long as nobody asks to see the real bank balance.
Image: Shin Min Daily News