Singapore police investigations into an alleged investment scheme linked to self-styled wealth guru Jason Fong have widened, with his former wife Diana Goh detained at Woodlands Checkpoint after returning from Malaysia.
Goh said she and her daughter were stopped and searched by authorities on Sept. 9 after returning from Kuala Lumpur. She was reportedly told that she was under investigation in connection with her former husband’s case. Goh has denied wrongdoing and said she would cooperate with investigators.
The investigation centres on a property investment scheme involving a 134 sq m commercial property at Telok Blangah Heights, which currently operates as an unmanned laundromat. Fong allegedly offered investors annual returns of as much as 15 per cent on money placed into the investment.
Seven investors told investigators and reporters that they had put a combined S$390,000 into the property scheme. One investor said he and a friend invested S$50,000 in March 2022 under an agreement promising annual dividends of S$5,000 for four years. They received payments in 2023 and 2024, but subsequent dividends were not paid.
Another investor said he had invested S$50,000 after meeting Fong through a wealth seminar. He said the promised 15 per cent annual return was paid on time for the first two years before payments stopped in 2025.
The concerns have grown since Fong stopped responding to investors and left an investment-related WhatsApp group in 2025. He was declared an undischarged bankrupt in 2026 and travelled to Kuala Lumpur in June, where he has remained, according to reports.
Police have since contacted multiple investors as part of the investigation. Several investors said they were interviewed in September, while others were asked to attend interviews scheduled for September and October.
Goh has also faced pressure from investors seeking answers over their money. She said some had repeatedly contacted her or appeared at her home and business. She has denied responsibility for the alleged investment losses and warned against harassment involving herself or her daughter.
The case is part of a broader investigation involving another self-styled wealth guru, Takeshi Lim Jian Bin, who was a business associate of Fong. Lim allegedly offered annual returns of between 5 per cent and 10 per cent through investments involving vending machines and industrial properties. More than 40 investors reportedly put about S$4 million into those schemes.
Both Fong and Lim have been declared bankrupt, while police investigations into their respective investment activities remain ongoing. The reports of unpaid returns and investor losses have prompted concerns that the schemes may have operated in a manner resembling a Ponzi arrangement, but that characterization remains an allegation rather than an established court finding.
For investors, the police investigation could help establish how the funds were collected, how the promised returns were generated and what happened after payments stopped.
The bigger question now is what investigators will uncover about the flow of investors’ money and the roles played by Fong, Goh and other people connected to the investment scheme.
