Two self-styled wealth gurus who reportedly drove Lamborghinis and wore expensive watches while pitching investment opportunities have been declared bankrupt, with more than 50 investors now worried about roughly S$5 million tied up in their deals.
Lim Jian Bin, 36, also known online as Takeshi Lim, was declared bankrupt in July 2026, while Jason Fong Wai Hong, 46, was declared bankrupt in April.
According to The Straits Times (ST), the pair were known through social media and wealth seminars, where investment opportunities promising guaranteed annual returns of as much as 15 per cent were promoted.
Several investors have since lodged police reports. Police told ST that investigations into both cases are ongoing.
More Than 40 People Put Up to S$4 Million Into Lim’s Vending Business
Lim had presented himself as a former private-hire driver who became a businessman.
One of the businesses he promoted was Nozomii Vending, which he had claimed operated more than 500 vending machines.
From 2023, more than 40 investors committed up to S$4 million to the vending-machine business, according to ST and Mothership. They were offered annual returns of between 5 and 10 per cent. One financial adviser interviewed by ST said he invested S$484,300. His payments initially arrived as expected before becoming smaller and eventually stopping.
Lim was declared bankrupt in July. ST previously reported that he sent messages to some investors after his bankruptcy, apologising over their losses and claiming that he had faced harassment and business sabotage before his business failed.
7 Investors Put S$390,000 Into Telok Blangah Property Deal
Fong was linked to a separate investment involving a 134 sq m property in Telok Blangah Heights that currently houses an unmanned laundromat.
Seven investors told ST that they had put a combined S$390,000 into the property.
One retiree invested S$50,000 after meeting Fong through a financial wealth seminar in 2022. According to ST, he said Fong had promised him annual dividends of 15 per cent.
The payments were made for the first two years from 2023, before they stopped in 2025, the investor said.
Other investors had also put money into the same property. A police report seen by ST showed that several had invested S$100,000 each.
Fong Reportedly Flew to Kuala Lumpur in June
ST reported that Fong travelled by plane to Kuala Lumpur on 21 June 2026 and, based on information available to the newspaper, had not left Malaysia as of its 31 August report.
Attempts by ST to contact Fong were unsuccessful. The newspaper also visited two offices linked to him in Yishun and Ang Mo Kio, which were closed when reporters went there.
Lim and Fong had previously been business partners in a Korean facial treatment franchise, and Lim had referred to Fong as his mentor in messages seen by investors.
More than 50 investors are now concerned about around S$5 million placed across the various investments associated with the two men.
Their bankruptcies and investors’ allegations do not by themselves establish that any investment was a scam or Ponzi scheme. As of 31 August 2026, police investigations into both cases remain ongoing.
