Crowdfunding firm sold S$6.9m sham invoices
Capital Springboard discovered last year all these were from a single SME, namely Vangard Project Management
Add BT as a preferred source
Singapore
A S$7 MILLION hit on a Singapore crowdfunding site may serve as a timely cautionary tale to the nascent industry of the high risks that can come with fast growth.
Capital Springboard (CS), which claims to have crowdfunded enough invoices to outdo any other crowdfunding platform here - its website puts the figure at S$183 million - discovered last year that it had sold S$6.9 million worth of fake invoices to investors, all from a single SME (small and medium-sized enterprise).
TRENDING NOW
Employers want AI-fluent employees. Hiring them is the challenge
Cat A hits record S$129,000 as COE rises across the board
E-commerce job cuts signal S-E Asia’s shift from scaling to deeper user engagement
Changes to EV incentives, uncertainty over COE framework drive Category A premium to a new high in ‘re-run of 2025 mania’
