The Commercial Affairs Department (“CAD”) has arrested the 49-year-old director of Ju Sheng International Consultancy Services Pte Ltd “(Ju Sheng International”) on 10 January 2020.
Amongst the various investment schemes Ju Sheng International had offered to members of the public, two of these schemes involved the provision of leveraged foreign exchange trading services to clients. Leveraged foreign exchange trading is an activity regulated by the Monetary Authority of Singapore (“MAS”) and generally can only be conducted by persons holding a capital markets services licence, unless exemptions apply. Ju Sheng International is neither exempted nor holds the requisite licence. When the CAD commenced investigations, Ju Sheng International had already defaulted on payments to some investors.
The CAD is investigating Ju Sheng International for possible breaches of the licensing requirements under the Securities and Futures Act, and whether investors have been defrauded. The director of Ju Sheng International is currently assisting in the investigation.
Anyone who has invested monies with Ju Sheng International is advised to lodge a police report at the nearest Neighbourhood Police Centre. To assist us in the review of your complaint, you should bring along a copy of the documents that provide information on your transactions with Ju Sheng International. Such documents include the agreements you signed, as well as documents on the payments made to and received from Ju Sheng International (e.g. bank statements, receipts, bank transfer forms).
SINGAPORE POLICE FORCE
17 January 2020 @ 9:35 AM