Couple in High-Profile Luxury Goods Scam Given More Charges; Had Allegedly Collected $24.7 Million from Customers

Do you remember the couple who were involved in a luxury goods scam?

Their modus operandi was receiving money for goods that were not eventually delivered. The scam was worth $32 million.

Now, both parties have been hit with more charges.

One of the new charges for the couple is a charge of taking orders for luxury goods worth $24.7 million without the intention to fulfill the orders.

Eh don’t whack us ah, but why does $24.7 million feel so little nowadays?

It must be because we’re so used to reading about the billions of dollars wrapped up in that money laundering scam.

In any case, here is more about the couple and the charges they face.

Couple Involved in Luxury Goods Scam Handed More Charges

Sometimes there is more than meets the eye to people’s wealth.

They may have acquired it by scamming other people, instead of through means like toiling their lives away at a corporate job or playing with cryptocurrency.

For Singaporean-Thai couple Mr Pi Jiapeng and his wife, Ms Pansuk Siriwipa, a bulk of their wealth was made through underhanded means.

The couple, who are both 28 years old, were charged last year for a luxury goods scam worth about $32 million, operating through companies Tradeluxury and Tradenation.

Now, they have been slapped with more charges ahead of their pre-trial conference happening soon.

Mr Pi, who appears to have played a smaller role in this scam, had two additional charges added.

One of the charges was for failure to use reasonable diligence as a director.

This was because he allowed his company to accept additional orders of luxury goods which he knew the company could not fulfill at its existing financial state.

Ms Pansuk, in contrast, was slapped with a whopping 166 new charges for cheating and two new charges for fraudulent trading.

Ms Pansuk appears to have played a key role in persuading her customers to place orders for various luxury goods such as bags and watches with her companies.

She then collected payment from them worth more than $24.7 million despite having no intention to fulfill these customers orders.

With the new charges, Ms Pansuk has a total of 172 charges to her name and Mr Pi has a total of 7 charges.

Their Pre-trial Conference Will Be Held Next Week

Since their dramatic escape from Singapore and arrest in Johor Bahru, the couple have continued to stay in Singapore while waiting for their case to be heard.

Their pre-trial conference is scheduled for next Wednesday where more progress will be made on their cases.

We’re sure watching this one with open eyes.