S’porean Who Was Kidnapped in Thailand Was Apparently Out on Bail for Criminal Breach of Trust in S’pore

By
George Yang
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If I ever get fired from Goody Feed, I believe I can be a fortune-teller.

Or at least, a detective.

About two weeks ago, a rather shocking incident was reported: a Singaporean was kidnapped by a fellow Singaporean. The victim, Mark Cheng, claimed that he wasn’t just kidnapped; when he was held, he was attacked brutally by his captor, whom he knew personally.

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Eventually, his captors let him go after Mark paid them SGD$54K worth of bitcoins.

Back then, I’ve written, “I don’t know what you feel after reading this entire account; but seriously, is it just me, or does this sound too much like a move plot with lots of plot holes? I mean, someone just paid his own ransom in bitcoin to someone whom he knew. And the victim was beaten up personally by his kidnapper.”

Well, it seems there’s indeed something fishy here.

S’porean Who Was Kidnapped in Thailand Was Apparently on Bail for Criminal Breach of Trust in S’pore

Today, it’s revealed that Mark Cheng isn’t just a regular Singaporean who was in Thailand for a holiday.

It turns out that the man was out on bail when he was on his “one-day trip”.

The man put on a surgical mask and went to court today for his alleged misappropriation of $320,000.

Wait, $320,000!?

Image: tenor

Here’s what went down.

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Accused of Three Counts of Criminal Breach of Trust

The man looks perfect in the media: he’s received a Queen’s Young Leaders Award in 2016 for his work to protect the environment and tackle poverty.

Look at how proud he is.

mark cheng jin quan
Image: queensyoungleaders.com

However, it turns out that his trouble with the laws had already occurred even before he became Captain Planet.

Back in 2014, he was allegedly engaged in a conspiracy with another man to misappropriate cash totalling more than $320,000 belonging to an organisation known as Zabel Global Investments.

An online search shows that Zabel Global Investments is a—wait.

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That “organization” has no digital footprint at all.

Apparently, Mark was also allegedly acting as a manager for Zabel Global Investments, and was accused of conducting regulated fund management activities without a capital markets services licence, which is an offence under the Securities and Futures Act.

Mark’s apparently a co-founder of Avelife, which has very limited digital footprint as well.

According to The Straits Times, he’s a former blockchain adviser with Singapore fintech company X Infinity, but a check on X Infinity website still shows his profile there.

Image: xinfinity.io

And don’t ask me what X Infinity does; all I can see in their website is that it’s run by many “serial entrepreneurs” in beautifully tailored suits.

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Reminds me of Dan Lok.

There is no mention of whether this case has anything to do with the kidnapping, but I’ll go out on a limb and say that this is indeed Netflix-worthy.

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George Yang
Email: [email protected]