He struggled for 15 years to pay debt, only to know It was a scam!
When it is already time for you to retire, it would just be normal for you to start making decisions on the things you have to do as preparation for it, and you’ll be looking to plan your retirement lifestyle to be financially comfortable as well as mentally relaxing, while also being able to engage in certain activities that may pique your interest. You are probably thinking of the best investments that you can make or you may want to save it for the future of your family. You might be choosing who you’re going to elect to have power of attorney on your behalf, which is one of the most important things you need to do. But what if you have been told that you have a debt with the government of your country and if you will not pay for it, imprisonment is what’s waiting for you? That sounds terrifying and you will surely do everything that you can, to find ways to pay for it.
In this story, you will come to know a man who spent 15 years of his life working to earn money in order to pay for a debt but in the end, he just realized that everything was just a scam.
1 What Happened?
Meet Tan Soy Kiang, he is already 70 years old and had struggled for 15 years just to pay a debt, unfortunately, the long term debt paying was only a scam. According to him, there were two women who approached him in the street while he was having his usual stroll. The two women convinced him that he had a debt, owed to the Singaporean government for $400,000 and that he will be imprisoned if he doesn’t pay for it. They also told him that for every missed payment, he will still go to jail.
But because he could only afford small amounts of payments during that time, they decided to settle the debt through monthly repayments. He eventually got two jobs to work on, with the hope to get enough money, which he could use to pay for the debt.
2 He Used His Retirement Savings and Did Two Jobs to Pay for His “Debt”
Once every month, one or both women will visit him to collect the monthly repayment of his debt. If he tries to ask for some extensions, the two women will eventually threaten him and he would be left with no choice but to pay his so called debt. Tan is not a rich person, he only has $1000 wage coming from his two works. If only he had better paying part-time work in retirement available to him. In the morning, he will work as a garbage collector. After, instead of resting, he will proceed to his second job as a pump attendant.
It was really obvious that he won’t be able to pay for the debt with that amount of wage, so he was forced to also give up his retirement savings of $53,000 and add it to his monthly repayments. For 15 years, he had to borrow money from his neighbors and from his 73 year old sister just to survive.
3 The End of Deception
It was only when his niece, Pamela Lim went home to Singapore from Australia that the deception was ended. Mr. Tan confessed what he is experiencing and Pamela eventually knew that it was only a scam. She eventually set up a meeting for the two women, who have allegedly admitted their actions.
The first culprit, Madam Boo Sok Hiang, 69 years old, had claimed that she was only cheated by the other woman who was only nicknamed as Madam Tan. She said that she was innocent and didn’t receive any money from the scam.
Madam Tan, on the other hand, was shocked to know that there was already a sum of $400, 000 taken from Mr. Tan. She admitted that she initially accepted the money from Mr. Tan in order to pay for her gambling debt in mahjong.
Both women didn’t admit that they were able to receive the amount which Mr. Tan had stated he paid off for over 15 years.
4 Thanks to His Niece, Pamela Lim
According to Pamela, his uncle continuously borrowed money from her mother and from other people in their neighborhood for the past years. It was surely impossible for him to have a hard time feeding himself even though he has two jobs. Pamela is working as a real estate broker and is 39 years old. She had been staying in Australia for the past years and after she went back, she was really shocked when her uncle admitted his situation to her and she did not think twice in helping him.
She also feels sorry that it took his uncle 15 years to end this issue. If she had known, she would eventually flew back to Singapore and deal with it.
5 Another Hero, Mr. Dan Chen
But it seems that his struggles will now come to a great end. When Mr. Dan Chen heard his story, he immediately set up a fundraiser in Indiegogo. When the news has been widespread all over the internet, there are so many people reacted because of the situation and eventually extended their hands to help Mr. Tan. Supposedly, Mr. Dan Chen only had a goal of $5000, but it reached about $42,000.
According to Dan, when he saw the news on TV, he was really shocked and he never thought that there are really people who will go overboard and do such things just to have money. That is one of the main reasons why he decided to set up a fundraiser. The total amount he got was raised by 1258 people in the internet and he was very thankful that there are still people like him in the internet that is willing to help people like Mr. Tan.
The moral of the story is to stay knowledgeable on what is happening around you, always ask for proof before you make actions.