Jail for Singaporean Man in $32M Luxury Goods Scam
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The Case:
pi Jiapeng and his wife, Pansuk Siriwipa, are accused of running a Ponzi scheme involving luxury watches and bags.Customers made advance payments but never received the goods.
Pi Jiapeng’s Role & Sentencing:
* The prosecutor believes Pi knew the operation was a Ponzi scheme but allowed it to continue, causing significant customer losses.
* His defense lawyer argues he played a minor role, acting as a “bank transfer assistant and deliveryman” for his wife. She claims he was dependent on Pansuk for addresses and goods.
* The lawyer requested a sentence of five years and four months, emphasizing his lesser involvement.
* Pi did not make any restitution to the victims.
The Couple’s Flight:
* Pi was arrested in june 2022 after police reports were filed.
* The couple fled Singapore on July 4, 2022, hiding in the container compartment of a lorry.
* Arrest warrants and Interpol red notices were issued.