A former insurance agent was accused borrow money from eight secondary schoolmates, amounting to SGD 560,000 ( RM1.68mil ), failed to pay back but still, he had a grand celebration for his wedding in a 5-star hotel.
Fumed and disappointed schoolmates even work with a debt collection agency to get back their hard earn money. But the accused insurance agent claimed himself involved in a scam case and his bank account was freeze. Thus, he can’t payback.
Three of the secondary schoolmates told media, the 32-year-old ex-insurance agent with the surname Chen borrowed money from them 2 years ago. At first, he did payback. But, later he said he was not sure when he can pay off that debt.
Mr. Siew, his best friend, and schoolmate from the Finance sector said since March, Chen always called and waited for him at the lobby of his apartment just to borrow money. After borrow closed to SGD 50,000(RM 15,000) to him, Chen even asked Siew to loan from the bank for him.
“My friend paid back SGD 3,000 (RM9,000) then he borrowed SGD 2,000( RM6,000) then SGD 30,000(RM90,000) and to date, he still owed me SGD 83,000 (RM253,000),” Siew said.
He added from June onwards he never paid back, then only Siew realized he borrows money from a few schoolmates too.
Another schoolmate, Mr. Du said Chen claimed his dad’s construction company facing some financial difficulties. In the past 2 years he borrowed SGD 80,000 ( RM240,000), he did pay back some and to date, Chen still owed him SGD 64,000 ( RM192,000). He didn’t pay back a single cent since August.
Ms.Cheng also said her situation was more or less the same. Chen owed her SGD 32,000 ( RM 96,000). Two of the schoolmates went to look for him to discuss how to settle the debt on October only he admitted he used that money to pay off his gambling debt and no extra money to pay them.
Ms. Cheng somehow found out from her relatives that posted on Facebook they attended his wedding dinner in a 5-star hotel in September. But the schoolmates that he owing money were not invited.
“I’m shocked and disappointed, he rather spend on the 5-star hotel wedding dinner than paying off his debt,” said Ms. Cheng. She revealed they were close friends since secondary school and every year will pay each other a visit during Chinese New Year. They also have gatherings very often. She was sad that their friendship will end up like this.
The schoolmates also found out Chen no longer worked as an insurance agent 2 months back.
Ms.Lim from the debt collection agency met Chen to discuss on the arrangement to settle the debt. However, Chen claimed himself involved in an investigation of a scam case thus his bank account was freeze and he was unable to pay off the debt for now.
He also mentioned to Ms.Lim that he wanted to pay off the debt, but he was not sure when he was able to do that.
“In one of our conversations, he claimed himself was threatened. Thus, to safeguard both parties and avoid any misunderstanding, we lodged a police report,” Ms. Lim from the debt collection agency said.
Police spoke person confirmed they received the report and said further investigation will be carried out on the case.
Info via Oriental Daily