A Singapore Police Power report is doing the rounds, suggesting Torque Buying and selling is preemptively hoping to undermine sufferer complaints.
The Police Report is designated NP299, which as I perceive is a normal report.
The report quantity is A/20210214/7007, filed at Central Division HQ, Cantonment Advanced, Singapore.
The filer is Bernard Ong Hock Fong, CEO of Torque Buying and selling and Director of Snap Improvements.
The date the report was filed is February 14th. Ong’s private particulars and the “location of incident” have been redacted.
As alleged within the report, Ong has reported
unauthorised crypto-trading activites and dishonest conduct by the previous Chief Know-how Officer of Torque Group (offences dedicated in Vietnam in opposition to BVI and Vietnamese working entites and their worldwide buyer base by a Singaporean citizen).
The assertion offered by Ong reveals the true intent of the submitting (which I’ll handle later).
We’re submitting this report on behalf of Torque Group Holdings Ltd. (British Virgin Island Firm No. 2024611).
Torque Group has engaged the companies of Torque Applied sciences Co. Ltd (Vietnam Firm Registration No. 0316214218) to develop IT companies for Torque Group.
Neither firm is domiciled, registered or current in Singapore. Neither firm has enterprise operations in Singapore.
That is after all bullshit, seeing as Ong and buddies actually ran Torque Buying and selling from inside Singapore itself.
The offences in opposition to these firms (and by implication, in opposition to funds belonging to worldwide prospects of those firms) didn’t happen in Singapore, however quite in Vietnam.
Nevertheless, the suspected particular person is a Singapore citizen ordinarily resident [sic] in Vietnam.
The suspected particular person is the previous CTO of Torque Applied sciences, a Mr. Wu Zhongyi (alias Zee Wu).
Wu’s Singapore Nationwide Registration id quantity and passport quantity are redacted.
We’re submitting this police report with the Singapore Police Power because the suspected particular person has gone lacking and would possibly floor on this nation of citizenship or would possibly journey on a passport issued by his nation of citizenship.
The report goes onto element beforehand allegations made in Torque Buying and selling’s “dangerous trades” exit-scam.
Authorities in south-east Asia are infamous for not doing something if MLM associated crime leads offshore.
Right here we now have Torque Buying and selling establishing Singapore Police with breadcrumbs that result in the BVI and Vietnam.
They know Singapore Police are unlikely to observe both thread, largely owing to jurisdictional points.
So why hassle a submitting a police report then?
The concept is that any sufferer complaints will lead again to this grievance, Singapore Police will see Vietnam and BVI, shrug and file the grievance into the “too exhausting” basket.
Days will drag into weeks, weeks into months… and that’ll be that.
Wu Zhongyi won’t ever be heard from once more, it’s all a part of the plan.
Ought to an officer at Singapore Police Power really examine, or higher but somebody at MAS, they’d quickly understand Torque Buying and selling pretending to be an offshore Ponzi is smoke and mirrors.
Via its Administrators Snap Improvements has ties to a number of MLM Ponzi schemes. This isn’t their first rodeo.
COVID-19 has altered the exit-scam playbook barely, however the finish consequence is similar.
You may take your 90% loss with a smile, wait round for limitless excuses and get nothing again, or file your personal grievance with MAS and Singapore Police.
Prime Torque Buying and selling buyers who obtained in early, scammed what they might from recruits and the system, have already moved on.
Take Shohan Bowala, a main Torque Buying and selling Ponzi promoter with a large downline.
Having stolen nonetheless a lot he stole from Torque Buying and selling victims, Bowala is already touting “one thing” new to rip-off folks with.
The solely folks defending Torque Buying and selling at this level are gullible first-timers, and/or those that invested excess of they’re comfy dropping.
Your cash is gone. You realize this ends…
Replace sixteenth February 2022 – The Snap Improvements scammers behind Torque Buying and selling have returned with RoboFi, a non-MLM crypto Ponzi.