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Peter Lim lodges police report over get-rich-quick schemes

He says he has nothing to do with online advertisements that drop his name to encourage sign-ups for programmes

The billionaire, who owns Valencia football club and whose businesses range from healthcare to property, made his fortune through investments in palm oil giant Wilmar, not from any easy work-from-home investments.


VARIOUS online sites have been dropping Singapore tycoon Peter Lim's name in an effort to hoodwink unsuspecting members of the public to sign up for "investment" programmes that promise great riches.

It turns out that none of them have his endorsement; instead, their "ill intentions" have drawn a rebuke from Singapore's 11th richest individual and owner of Spanish football club Valencia.

Mr Lim, who Forbes says has a net worth of US$2.4 billion, lodged a police report at the Neighbourhood Police Post near Orchard Road on the false claims circulating online, linking him to certain investment schemes.

A statement issued through his firm Kestrel Capital said: "Mr Lim categorically denies that he has anything to do with the claims made in these reports.

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"He is concerned and alarmed that his name is and continues to be used by parties with possible ill intentions to mislead unsuspecting members of the public.”

The statement "strongly advised" the public to protect themselves against the false and misleading claims to avoid becoming potential victims of get-rich-quick scams.

"Netizens should also refrain from circulating and reposting these false claims," it said.

The headline of one such online advertisement screams: "Peter Lim reveals easy work-at-home trick. Quit your job in 30 days!" It promises to share Mr Lim's "secret formula" to make a quick buck from home.

That ought to be enough for alarm bells to start ringing, because generating money from home is not how the 63-year-old made his pile.

The former "remisier king" made his fortune through his investments in palm-oil giant Wilmar and a Manchester United cafe franchise in Asia. He has businesses spanning property, healthcare, automotive and sports; he also owns stakes in Singapore-listed Rowsley, which is building a healthcare hub in Malaysia's Iskandar, and in security-solutions provider Secura Group, which was listed on Catalist in January.

One blog, which listed a string of Mr Lim's investments in a post dated Aug 24, claimed that he will share a "huge opportunity for Singaporeans".

Another website banking on persuading members of the public to sign up for its programme, claims that one can make a great deal of money like Mr Lim with only a computer, smartphone or tablet and Internet access.

It teases: "Sounds too good to be true?"

That seems to be the only remark on the website that is right on the money.

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