\n<\/p>\n
Tradenation sold luxury watches, while Tradeluxury sold luxury bags, largely on a pre-order basis.<\/p>\n
When customers placed orders, they had to make full payment before the companies procured and delivered the goods.<\/p>\n
By late 2021 or early 2022, Tradenation began experiencing difficulties with overseas suppliers because of shipment delays and other issues.<\/p>\n
Tradeluxury encountered similar challenges when it started operations in January 2022 and both companies began making losses. \u00a0<\/p>\n
By February 2022, Pansuk knew the companies might not be able to fulfil their orders because they did not have sufficient funds.<\/p>\n
However, she continued taking orders, using payments from new customers to buy goods to fulfil earlier orders.<\/p>\n
Pansuk knew that most of these orders would incur losses as she was buying from local sellers and selling to customers at a price lower than the cost.<\/p>\n
The companies had a deficit of nearly S$9 million (US$7.1 million) by the end of March 2022.<\/p>\n
Pansuk continued taking pre-orders until June 2022, cheating 166 victims of more than S$12 million.<\/p>\n
Despite the companies\u2019 losses, the couple lived a lavish lifestyle funded with money from their businesses.<\/p>\n
While under investigation, Pansuk and Pi fled Singapore by hiding in a lorry\u2019s container compartment while crossing Tuas Checkpoint. They were arrested in Malaysia on Aug 11, 2022, and handed over to the Singapore Police Force.<\/p>\n
Pansuk was sentenced to 14 years\u2019 jail in October 2024, while Pi was jailed for five years and 10 months in October 2025.<\/p>\n<\/div>\n
\n
THE CASE Tradenation sold luxury watches, while Tradeluxury sold luxury bags, largely on a pre-order basis. When customers placed orders, they had to make full…<\/p>\n","protected":false},"author":1,"featured_media":78288,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s--N59m4UAB--\/c_crop,h_550,w_977,x_1,y_179\/c_fill,g_auto,h_676,w_1200\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2026\/08\/21\/tradeluxury.png?itok=sd5Ziu9Q","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[141,2626,4072,6196,3656,4342,2455,28645,4071],"class_list":["post-78287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-charged","tag-director","tag-goods","tag-laundering","tag-luxury","tag-money","tag-scam","tag-tradeluxury","tag-tradenation","wpcat-2-id"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/78287","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=78287"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/78287\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/78288"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=78287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=78287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=78287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}