In Singapore, an old deception has returned with quiet efficiency: since July, police have recorded 21 cases of pump-and-dump stock fraud, a scheme that exploits not ignorance but hope — the deeply human wish to secure one's financial future. Fraudsters, posing as trusted investment mentors on social media, cultivate relationships over weeks before steering victims into manipulated overseas shares, then vanish once the price collapses. The losses are not abstract — one couple surrendered more than half a million dollars; five others watched nearly three-quarters of a million evaporate in a sin
Singapore police warn of surge in 'pump-and-dump' stock scams, 21 cases in two months
Victims in Singapore lost substantial sums, including one couple losing over $500,000 and five victims collectively losing HK$4.6 million (S$744,000) on a single Hong Kong-listed company.