Woman Arrested for Promoting Fun Coffee Pyramid Scheme in Singapore
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Insights by Echo AI
A 49-year-old woman was arrested by Singapore police for allegedly promoting the Fun Coffee investment platform, which operates like a pyramid scheme. The suspect actively recruited members, requiring them to download an app and top up with USDT (Tether) to purchase investment packages. The platform promised high returns and recruitment commissions, but many users found they were unable to withdraw their funds. The case has previously been reported in Hong Kong and Macau, with over 220 cases and a total of HK$100 million involved. The woman faces a maximum penalty of 5 years' imprisonment or a fine of S$200,000.
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