Retiree scammed out of $3 million, forced to sell two properties to pay off loanshark debt

A 74-year-old retiree, Poon Sing Wah, was scammed out of $3 million, pushing her into debt with loansharks and forcing the sale of two properties to pay off the debt.

In a recent Lianhe Zaobao interview (Jan 11), Poon, a former Zaobao reporter, recounted how the elaborate scam unfolded back in 2019. She received a call from someone pretending to be a DHL employee, claiming she had sent forged passports to Beijing, which were now being held at customs. The situation escalated when an impersonator posing as an “Interpol officer” in China told her she was under investigation for masterminding a money laundering scheme and her Chinese bank account would be frozen for two years.

Born in Shanghai, Poon maintained a bank account in China and was alarmed as she had planned to use that money soon. The scammers offered a solution, introducing a fake “general prosecutor” to help her. They even arranged for a female “officer” to hand her fake crime documentation, warning her not to tell anyone. The scam ensnared Poon further as she complied with every instruction.

The scammers then directed her to log into a fake police website and press the “ok” button on her digital token every few seconds, claiming it was to verify her fingerprints. Unbeknownst to Poon, each click drained tens of thousands from her account. Over 20 days, Poon logged into her China Zheshang Bank account 266 times, transferring a staggering 14.86 million yuan (S$3.03 million).

She only realized the gravity of her loss when she was left with just 0.76 yuan in her bank account. On top of that, the scammers had fabricated further excuses to demand additional money, causing Poon to borrow from friends and loansharks to comply. She finally suspected it was a scam after a friend warned her, but by then, it was too late.

Poon, who was devastated by the loss, traveled to Shanghai to file a police report, but was told the crime was out of their jurisdiction. To pay off her loanshark debt, Poon had to sell two properties with her daughter’s help. She revealed that the ordeal caused her to lose 10kg and she even contemplated ending her life.

However, Poon decided to share her story in hopes of preventing others from falling prey to similar scams. “I want to raise public awareness,” she said, likening the scammers to “terrorists.”

Poon also attempted to sue China Zheshang Bank for security lapses, but her case was dismissed without compensation. Despite the ordeal, she found solace in her children’s support, saying they didn’t get angry or reprimand her. “I apologised and told them I was sorry, as that money was meant to be theirs.”

candicecai@asiaone.com