SINGAPORE: A woman who ran a ponzi scheme for five years, cheating 53 people out of more than S$35 million in total, was sentenced to jail for 14 years on Friday .
Another lie she told the investors was that she would use the funds for a scheme to fund start-ups that would purportedly reap lucrative monthly returns. Her scheme was exposed when she began delaying payments in late 2014. She told the victims that she would refund all outstanding payments by mid-May 2015, but she could not repay them.
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