Singapore watch boutique employee's waitlist scam cheats victims of almost $500,000
A Singapore watch boutique employee, Soh Jian Kun, has pleaded guilty to a scam that defrauded 14 victims of nearly $500,000 by promising access to rare luxury watches. Claiming he could secure coveted models from brands like Rolex and Patek Philippe through a staff purchase scheme, he instead provided victims with forged documents, fake receipts, and fabricated chat screenshots to maintain the illusion of legitimacy. The scam turned out to be a Ponzi scheme, with funds misappropriated for personal debts rather than actual watch purchases, leading to prosecutors seeking a prison sentence of up to five years and seven months. The revelation of this scam has shocked the watch community, particularly given Singapore's reputation for safety and low crime rates. Enthusiasts have expressed disbelief that such deceit could occur in the city-state. Amidst this controversy, watch collectors are reminded to exercise caution and vigilance when navigating the luxury watch market, especially as new releases and events like LVMH Watch Week approach, signaling a busy year ahead in the watch industry.
