Since 31 May 2019, Monetary Authority of Singapore (MAS) has blacklisted The I Quadrant in the Investor Alert List which, according to MAS website, “provides a list of unregulated persons who, based on information received by MAS, may have been wrongly perceived as being licensed or regulated by MAS”.
The authority stops short of labelling companies in the Investor Alert List as providing scam services or engaged in fraudulent activities. But most Singapore investors should know that it is best to steer clear of those companies listed in Investor Alert List. After all, plenty of local investors had lost their pants investing in property schemes provided by companies like Profitable Plots Pte Ltd (which is still listed in the MAS Investor Alert List). In the case of Profitable Plots, the directors had been jailed by Singapore court.
The reason for MAS to blacklist The I Quadrant is unclear. According to the website of The I Quadrant, the company provides financial education services relating to property investments. Perhaps, the authority has moved in to blacklist The I Quadrant because of its Facebook advertisements which claimed that the founders are able to “own 36 properties with little or no cash”.
I always …