Nadine Chua
The Straits Times
Oct 18, 2025
For three years, Ali (not his real name) has been hoping he would get back the $800,000 he transferred to convicted cheats Pansuk Siriwipa and her husband, Pi Jiapeng.
Ali, who is in his 20s, had used up the bulk of his life savings to purchase over 40 Rolex watches in 2022, intending to resell most of them, but he never received the goods.
He had trusted the married couple, who boasted leading a lavish lifestyle on social media and ran two companies, Tradenation and Tradeluxury, selling luxury watches and bags.
The pair made headlines in 2022 for their involvement in the $32 million luxury goods scam, after taking off with their customers’ money without fulfilling orders. Over 180 police reports were lodged by 178 victims.
More than three years since the crimes came to light, Pi, 30, was jailed for five years and 10 months on Oct 14.
His wife, Thai national Pansuk, 31, was sentenced to 14 years’ jail in October 2024 for being the mastermind in the scheme.
The Straits Times spoke to four victims, whose names have been changed to protect their privacy.
Ali, a business owner, had ordered Rolexes, including a GMT-Master II worth $30,000 and a Submariner worth $22,000, from the couple.
He said: “It has been three years, and I still don’t know if I can get back any amount. The money was supposed to be used for emergency expenses and other investments.
“In the end, things were so bad I had to sell my car and other watches.”
In a statement to ST on Oct 17, the police said they seized cash and money in bank accounts amounting to over $200,000.
The police also seized more than 80 pieces of jewellery, luxury bags, luxury watches, accessories and ornaments.
“The seized assets will be dealt with in accordance with the law,” said the police.
