#TeamFDR Scam Alert! | In the recent weeks, the Fast Debt Recovery Team have uncovered an alleged scam that is spearheaded by a man named Mr. Lim Jia Xing, Frederick (Sxxxx7197B). The victims who have fallen prey to this scam have all experienced the same misfortune. One incident goes as such:
1. Our client (Mr. A) has expressed his interest to purchase a used car from B-Auto, a firm that Mr. Frederick owns. He was given 2 options – purchase the car without a loan and make a full payment immediately or apply for a bank loan and he’ll get to drive the car back after topping up the balance.
2. After some consideration, Mr. A decided to go with the first option. He proceeded to trade in his old car and top up the required balance as assessed by Mr. Frederick. Mr. Frederick then proceeded to make the necessary arrangements and gave Mr. A the car keys to drive the car home.
3. Unfortunately, Mr. A’s joy was short-lived. A few days later, the newly purchased vehicle was repossessed. Surprised and shocked, Mr. A begin doing his own investigation where he started to uncover the sad truth; not only did the monies that he handed to Mr. Frederick was not used for its original intent, the car that was delivered to him at B-Auto by Mr. Frederick was still mortgaged to the finance company/banks!
4. Even though the events that transpired between Mr. Frederick and our client happened within a span of 7 days, it was already enough to dramatically alter our client’s life and way of living as Mr. A was left with nothing, no car, no money and no explanation from Mr. Frederick himself.
A great man who harbored hopes for a better life is now reduced to living on the simplest of means which inconvenienced him greatly- a mere 20-30mins drive to work became a 1-2 hours commute, a stress-free lifestyle became one fraught with disappointment, and dreams of a better life became terrible, sleepless nights.
Mr. A is not the only client who has fallen prey to B-Auto and Mr. Frederick’s unethical business practices. We strongly encourage those who have too experienced first-hand the dishonesty of Mr. Frederick and B-Auto to step forward and share their stories with us or the relevant authorities. At Fast Debt Recovery, we strongly believe that there is strength in numbers and that we all should all work together hand-in-hand to bring such a horrendous act to justice!
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