He claimed he was ex-DPM's brother, cheated victims of $420,000
Man found guilty of cheating victims of $420,000
You could argue the man in the dock looked a little like former Deputy Prime Minister Wong Kan Seng. But Wong Kok Keong, 63, is not related to the former DPM.
Yet in 2007, Wong, who was then believed to be a freelance broker, told business acquaintances he was the then DPM's brother.
Three directors and shareholders of Manor Construction were then duped into giving him $420,000 over two non-existent business deals.
Wong, who was represented by lawyer Edmond Pereira, was found guilty yesterday of two counts of cheating.
Deputy Public Prosecutor Hon Yi said Wong's victims thought he had the right connections.
In September 2007, he concocted an investment deal involving land at 8, Yung Ho Road in Jurong.
He told his victims - Mr Lim Swee Guan, 55, Mr Chan Jee Khin, 42, and Mr Heng Choon Leng, 45 - he had acquired the rights to build a commercial building on the land.
He then invited them to invest in the project and told them the Option to Purchase (OTP) for the land was valued at $900,000.
The victims were required to pay 20 per cent of it, which came up to $180,000. After receiving a cheque for the amount from them on Sept 27, 2007, Wong immediately cashed it.
His investors later asked him on a few occasions to furnish them with the OTP documents.
Wong provided none and in April 2008, told the victims he would return the $180,000 as the investment had been unsuccessful.
DPP Hon said: "There was no such OTP that the accused claimed to have access to, and he was not the brother of then-DPM Wong."
Similarly, Wong's other investment dealturned out to be a sham.
Wong had told Mr Lim he could acquire "preferential shares" of Advance Modules at $0.15 per share, which would rise to $0.50 per share.
The trio wrote him cheques worth a total of $240,000 in October 2007.
Wong did not fulfil his promise.
Yesterday, Mr Pereira confirmed in court that Wong had made restitutions of around $200,000.
Wong is expected to be sentenced in April. He is an undischarged bankrupt.