A 52-year-old man, Kam Boon Hee Kenneth, has been charged in court on 10 March 2020 for cheating, in relation to his promotion of a loan programme. He is a former director of several companies, including Kenn Capital Pte Ltd, Kenn Organisation International Pte Ltd and Kenneth Kam Pte Ltd.
Under this loan programme, lenders would provide loans to Kenneth Kam for a three-year period. The charges allege that he had deceived lenders into believing that he would generate monies from foreign exchange trading to pay them their returns at 3% per month.
Kenneth Kam faces 37 counts of cheating and dishonestly inducing a delivery of property under Section 420 of the Penal Code, involving amounts totalling close to $3.5 million. If convicted, he faces imprisonment for a term, which may extend to 10 years, and shall also be liable to a fine, in relation to each count of cheating. The investigations into the loan programme and several of his companies are ongoing.
Anyone who wishes to lodge a police report in respect of the above programme may do so online via https://eservices.police.gov.sg/content/policehubhome/homepage/police-report.html.
To assist us, you may wish to upload relevant documents relating to the loan programme, and provide details about the loans interests, commissions or withdrawals. Alternatively, you may lodge a police report at the nearest Neighbourhood Police Centre. Please bring with you a copy of the above mentioned documents.
SINGAPORE POLICE FORCE
10 March 2020 @ 5:45 PM