SINGAPORE – Between 2013 and 2018, a man carried out investment fraud on multiple instances, soliciting around $15 million from at least 96 investors through various companies.
Peh Wei Siang’s offences led to a total loss of about $6 million.
On April 9, 2026, Peh, 38, was sentenced to 11 years and three months’ jail after he pleaded guilty to 10 charges including multiple counts of cheating.
Deputy public prosecutors Eric Hu and Darren Sim told the court two of the companies linked to the case are Prive Investment and Zabel Investments.
Also linked is the Pixeltrade group of companies.
In addition, some of Peh’s cases involved two other men – Mark Cheng Jin Quan and Loh Zhi Xiang.
Cheng, then 34, was sentenced to 17 months’ jail in 2022 while Loh, then 31, was ordered to spend 1½ years behind bars in 2021.
The DPPs said the three men incorporated Prive in April 2013, and they agreed it would sell shares to investors in exchange for investment capital.
According to court documents, these shares entitled investors to annual dividends, and their capital investments were guaranteed.
Investors were also told that their capital would be used to invest in items such as foreign exchange.
Prive later collected more than $1 million from 17 investors, largely made up of Cheng’s friends and family members.
The money was deposited into Prive’s bank account.
The court heard that $100,000 was withdrawn from it on or around May 30, 2013.
Peh then misappropriated the amount by depositing it in his own bank account. He then used the money on his own expenses.
