S$2.5m lost in scam involving car dealer Volks Auto

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http://www.channelnewsasia.com/news/singapore/estimated-s-2-5m-lost-in/1535780.html

Luxurious cars and prices that are S$10,000 below the market - that is what car buyers at Volks Auto thought they were getting, but it might have been too good to be true.

Victims said that the dealer had told them their cars were in Singapore, but were stuck at customs or awaiting inspection.

About 90 of them met on Wednesday (Dec 17) to compile sales agreements and police reports. They plan to send these documents to the authorities and seek redress.

Those affected said an estimated S$2.5 million has been lost. Some said they each paid over S$20,000 in deposits, while others have been waiting for their cars since July.

Mr Neo Nam Heng, president of the Automobile Importer and Exporter Association said that customers can protect themselves from similar scams by demanding to physically check on their cars, engine numbers, chassis numbers, or a BL (Bill of Lading) to safeguard their own interests.