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Crowdfunding firm sold S$6.9m sham invoices

Capital Springboard discovered last year all these were from a single SME, namely Vangard Project Management

Mr Crook has confirmed that, at one point, Vangard's disputed invoices accounted for 9.7% of all invoices traded since CS went live, representing S$6.9 million of S$71.2 million, as at last March.


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...

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