When something sounds too good to be true, it probably is, especially if it comes in the form of a lucrative business deal.
While some may find it suspicious, others might feel tempted to try their luck in hopes of turning their fortunes around.
That was reportedly the case for an elderly man found dead by the police at Lower Seletar Reservoir on 9 Apr 2021.
Source: China Press
Police investigations found that he owed about S$70,000 to several companies prior to his death. He had also made overseas investments but never earned any money from them.
According to China Press, the deceased body was found in a secluded part of Lower Seletar Reservoir on 9 Apr 2021. A coroner’s inquiry has determined the cause of death as suicide.
When police officers found his remains, they also obtained a document on his body, though it had been slightly damaged by the water.
This document, dated 5 Apr 2021, indicated approval for a company from the Cambodian government to raise funds for a ’10 billion-dollar project’.
Police found that the last call he made was to a financial company, hoping to procure a loan. However, the financial company rejected his request as he had already reached his loan limit.
Investigations revealed further details about the deceased’s predicament. He was knee deep in debt.
China Press reports that the deceased had a business partner and a Cambodian assistant. He met the former in 2017 while working together on a construction gig.
The deceased introduced the idea of investing in a train construction project, to which the partner agreed. Both travelled to Cambodia to meet with ‘local government officials’ to sign a memorandum.
The business partner was told that once the memorandum had been approved, he would receive about S$4.75 million (RM15 million).
Even though the partner said he felt something was wrong, he tried not to overthink. After signing the memorandum, he did not contact the deceased again after that.
As for the Cambodian assistant, he said he knew the deceased around 2018. Both had different roles to play — the deceased was responsible for finding investment funds, while the assistant was in charge of forming good relations in Cambodia.
However, two days before his passing, the deceased contacted the assistant and quizzed him on ways to raise 10 billion euros.
The assistant then asked if he’s received any money from Cambodia since the last time they talked. But the deceased explained that he could not travel to Cambodia to collect the funds during the pandemic.
Police found that he was getting by with CPF payouts while owing around S$70,000 to various companies.
It was also reported that the deceased had a mistress in Cambodia, whom the police interviewed by phone. She said she was in charge of scouring for investment opportunities with her godbrother.
Upon being contacted by the police, the godbrother said he was responsible for establishing relations in Cambodia while the deceased was tasked with securing funds.
However, both the mistress and her godbrother were unaware of any multi-billion dollar project. They also did not know of the deceased’s financial situation.
According to China Press, this was not the first time the deceased ventured into overseas investments. In 2015, the elderly man failed in an overseas business venture, causing him to lose approximately S$35,000.
After painstakingly paying off his debt over the years, he promised his wife that he would never get involved in overseas investments again.
However, he broke his promise once he agreed to be involved in a project with his Cambodian mistress.
According to police investigations, there is no evidence that the deceased made any money from his investment projects.
Although we may never know for sure what drove the man to take his own life, it is sad to learn about the numerous trials and tribulations he had gone through in the hope of earning big bucks.
Sometimes, mistakes can pile up, and before long, they’ll come crashing down on one’s life. While others can pick themselves up again, some do not.
MS News extends our condolences to the deceased’s family for their loss.
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Featured image adapted from China Press & Google Maps.
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