SINGAPORE \u2013 A woman linked to one of two companies behind a luxury goods scam involving $32 million<\/span><\/a> was charged in a district court on Aug 21 over her alleged handling of $35,000 in ill-gotten gains.<\/p>\n Yap Lee Peng Somchai, a 30-year-old Singaporean, faces one count each of dealing with the proceeds of cheating and failing to exercise reasonable diligence when she was a director of the firm Tradeluxury between March and May 2022.<\/p>\n According to court documents, she allegedly transferred the $35,000 from Tradeluxury\u2019s bank account to another person\u2019s account on May 30, 2022.<\/p>\n Court documents stated that the money had allegedly come from the mastermind of the ruse, Pansuk Siriwipa.<\/p>\n Yap is also accused of failing to exercise supervision of Tradeluxury\u2019s affairs.<\/p>\n Her case will be mentioned again in court on Sept 18.<\/p>\n Thai national Pansuk and her Singaporean husband Pi Jiapeng made headlines in 2022<\/span><\/a>\u00a0for their involvement in the $32 million luxury goods scam.<\/p>\n They had taken off with their customers\u2019 money without fulfilling orders. More than 180 police reports were lodged by 178 victims.<\/p>\n Pansuk, then 31, was sentenced to 14 years\u2019 jail<\/span><\/a> in October 2024.<\/p>\n Pi, then 30, was\u00a0jailed for five years and 10 months<\/span><\/a>\u00a0the following year.<\/p>\n In May 2021, they started a company called Tradenation to sell luxury watches.<\/p>\n Less than a year later, Pansuk started Tradeluxury to sell luxury bags.<\/p>\n Despite both companies facing financial issues, she continued accepting orders and payments from customers.<\/p>\n <\/a><\/figure>\n Instead of fulfilling orders,\u00a0Pansuk used the money\u00a0for personal expenses, such as a $58,000 private jet flight with Pi and their friends and\u00a0to buy a Chevrolet Corvette registered in Pi\u2019s name.<\/p>\n By the end of March 2022, the companies had cumulative liabilities of more than $9.3 million in unfulfilled orders, while their assets were worth only around $350,000.<\/p>\n Despite this, Pansuk continued accepting orders for luxury goods.<\/p>\n From March to June 2022, the total amount of payments collected was almost $24.8 million for Tradenation and nearly $947,000 for Tradeluxury. Orders were left unfulfilled.<\/p>\n During investigations, Pansuk and Pi\u00a0fled from Singapore to Malaysia in a lorry\u2019s container compartment<\/span><\/a>\u00a0in July 2022.<\/p>\n They were later arrested in Malaysia and returned to Singapore in August that year.<\/p>\n<\/div>\n SINGAPORE \u2013 A woman linked to one of two companies behind a luxury goods scam involving $32 million was charged in a district court on…<\/p>\n","protected":false},"author":1,"featured_media":78394,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-78393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/78393","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=78393"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/78393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/78394"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=78393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=78393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=78393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/picture><\/div>\n
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