Student Accused Of Taking $400,000 From Friends To Invest In Stocks

Nanyang Polytechnic Student Allegedly “Gambled $400k Away”

UPDATE (8:45PM): Nanyang Polytechnic has informed us that they are currently investigating the matter. They have decided not to comment further on the incident to protect the privacy of the parties involved.

Now these are pretty serious allegations.

The word on the Insta-street is that there’s a next-level ‘scammer’ in the form of a student whom we shall address as Mr Tan.

Lion City Feed uploaded an anonymous Insta-story screenshot on Monday (29 Oct) claiming that Mr Tan has walked away with $400,000 from his friends who are fellow students at Nanyang Polytechnic.

They apparently had no choice but to publicly call him out on social media in the hopes that he would return the money.

Here’s a quick summary on what went down.

Allegedly received $400,000 from friends

A student of Nanyang Polytechnic was called out on Instagram for “cheat(ing) his friends” for a total of “400K of (their) money”.

According to the post, Tan allegedly told his friends that “investing money in him” would bring about “profits” as he had “shares in the stock market”.

“Gambled” money away

Instead of providing investment returns to his friends, Tan was accused of gambling $400,000 away.

When his friends asked him for their profits back, he allegedly “delayed payment with various excuses”.

 

His behaviour quickly aroused the suspicions of his friends, and they uncovered that “he had gambled all (their) money away” upon further digging.

Friends claim they filed a police report

After repeated delays, his friends added that they’ve since filed a police report regarding the incident.

However, Tan allegedly avoided “phone calls from the police”, and has pretended to be “someone else over the phone”.

At their wits’ end, Tan’s friends resorted to calling him out on social media in the hopes that they would receive their money back.

In their words,

We do not wish him any harm whatsoever, but he has been constantly avoiding us and $400k is no small amount. All we want is our money back and we really have no other choice.

No small sum indeed

We’ve reached out to Tan and Nanyang Polytechnic to verify if there’s any truth in the allegations.

However, $400k is “no small sum” indeed and we hope that the dispute will be resolved peacefully soon.

Featured image from Google Maps.

The Must Share News Team

Teamwork makes the dream work.

Recent Posts

M’sian PM Anwar sends fruit basket & soup to Lawrence Wong after S’pore PM gets Covid-19

A "get well soon" message from Mr Anwar and his wife was included.

5 Dec 2024, 2:19 am

5 things about the South Korean president who announced martial law & his controversial wife

The husband and wife have been embroiled in controversy long before he won the presidency…

4 Dec 2024, 7:06 pm

S’pore Pools outlets experience technical difficulties on 4 Dec afternoon, services resume after 4pm

Both the website and app, as well as physical outlets, were affected.

4 Dec 2024, 6:31 pm

8-year-old girl in India shot dead during revenge attack by 9 men over dispute with her brother

Only three of the attackers have been identified by the police, with two already arrested.

4 Dec 2024, 5:54 pm

Thai father arrested for repeatedly raping 18-year-old daughter for 11 years, getting her pregnant

He threatened to kill the family to maintain her silence.

4 Dec 2024, 5:44 pm

‘My Fair Princess’ author Chiung Yao dies in Taiwan aged 86 years old

The author's will was published shortly after news of her death.

4 Dec 2024, 5:29 pm