fifty seven The situation of Tradewaves Ltd v Common Chartered Lender [2017] SGHC 893 is instructive During this regard. The plaintiffs had invested into what turned out for being a Ponzi plan of Bernard L Madoff. The plaintiffs contended which the defendant financial institution’s relationship supervisors had built negligent or fraudulent misrepresentations that induced the plaintiffs to invest, and keep on being invested, right until the fund collapsed. The courtroom held at [seventy five]: “…the Plaintiffs’ understanding of the illustration that Fairfield Sentry ‘was a safe and stable investment with dependable excellent returns and low volatility’ had nothing at all to carry out with the chance of reduction due to managerial fraud.

Ken and Sally attended exactly the same demonstration. Sandra states participants ended up launched to some individuals they ended up advised have been Skilled gamblers, and they ended up all divided into 8 tiny groups to observe gambling Along with the one hundred% formula at the casino. The result of the demonstration was that from the eight groups of gamblers, 7 teams gained but just one misplaced. Sandra suggests, “This apparently proved that the one hundred% profitable system worked.

five. On or around early May perhaps 2014, 1 achieved up with Sandra in Hong Kong. She told me that she had just returned from her trip to Singapore, exactly where she attended a convention organised by SureWin4U, which was an expense scheme she was taking part in.

sixty seven Additional, I notice that Sandra’s carry out in the aftermath from the collapse of SureWin4U is inconsistent together with her assertion that she had invested in reliance on representations by Ken, Sally, and Sebastian. I will address this later on.

three SureWin4U was on the other hand a Ponzi plan. It did not Use a strategy for constantly successful money via gambling, let alone a “certain get” way. As such, individuals’ returns basically came within the money which they and fellow participants place into the scheme.

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(a) Sandra advised Mr Zhou: “It’s Okay, I knew the chance, I'll experience it.” She did not say she thought her participation in SureWin4U was freed from possibility, and he or she didn't say she thought it absolutely was free of possibility because Ken and Sally explained to her SureWin4U was “safe and successful”.

Be aware which the frequency of producing random numbers should be also programmed inside of a slot machine. Thus, it can even be easily study and predicted soon after code decompilation.

The Surewin scammer Procedure operates like a business—with customer care fronts and marketing methods—all directed at defrauding end users.

However, beneath the area lies a sophisticated rip-off operation created to defraud unsuspecting players. It attracts buyers with guarantees of confirmed wins and manipulated predictions which might be later on applied as equipment for financial deception.

I do take that Sandra was defrauded by SureWin4U, and people driving it; but I do not uncover Ken, Sally, or Sebastian being among All those behind the scheme.

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Sandra nevertheless believed in SureWin4U’s one hundred% formula (as did Ken, Sally, and Sebastian), she went to Dwell with Ken and Sally, and she or he was aspect of the effort and hard work with Sebastian (employing Ken and Sally’s money) – she evidently didn't Assume then, that they had defrauded her or built check here Phony representations that had induced her into investing in SureWin4U.

forty two These representations were being further more tackled in Sandra’s oral closing submissions, along with slide 38 from the slides offered on the Listening to, which I look at in better depth later.