Support Site for The Unemployed & Underemployed
Saturday January 13th 2018

University undergrad cheated of life savings $6500 by Cufflinks Holdings in alleged scam

Hi Gilbert,

I got to know this company Cuffz Holdings (CH Assets) through a NS friend.

He told me that his parents had invested with this company in the project called The Islandia (at Batam, Pulau Abang Besar) and constantly received dividends quarterly.

Initially, I was skeptical but I trusted that he and his parents knew what they were doing, therefore I decided to invest in SGD6500. Base on the profile team of the company, they seem to be quite professional.

He brought me down to The Sail and met up with another guy where I had to sign a proxy form as shown in the picture.

I was informed that there will be a contract soon after but it turns out there wasn’t as the amount was too small for a contract.

Additionally returns promised was 20% per quarter and in the end corrected to 20% per year and this will be reflected in an account under which had been under maintenance for so long.

Currently I had receive 0 dividend from them.

The Islandia was advertised to be a project name but gradually it changed to a brand name consisting of many projects but was told that Cuffz holdings still manages them.

Latest news from them was that the invested amount will be converted to the shares of the acquiring company which till date there is still no information on the amount of shares I am getting from this acquiring company.

This acquiring company I believe is Capital Venture Europe PLC as it was stated on their website but had since taken off from it.

Additionally, The Islandia had emailed saying that the company had entrusted their funds to a trustee account under a lawyer Mr Gurdaib from Gurdaib Cheong & Partners.

Recently they had an issue of withdrawing the funds from the trustee account and the lawyer Mr Gurdaib was unable to give them their funds.

They were afraid that the lawyer had misused the funds for his own purpose. According to them, they had lodged a police report.

Till date, no information regarding the amount of shares given by the acquiring company and no dividends payout.

I am really disappointed and as a student, this amount is really quite a sum there.


Editor’s note: If you are one of the victims of this investment scam, please write in to We will post up your story to warn the innocent public of this ongoing scam.

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2 Responses to “University undergrad cheated of life savings $6500 by Cufflinks Holdings in alleged scam”

  1. Huh says:

    Chances of getting your money back are 0, take it as a good life lesson that no such thing as free lunch and to investment your money through yourself and no one else. This is a modern age Ponzi scheme in which many companies have used and gotten away with, there was this gold company doing the same and was busted both in Singapore/Malaysia.

  2. Chitra says:

    We were cheated too. Why didnt the law help the citizens here. This is an age old way of cheating people and yet in todays modern age and technology, even the law cannot stop such schemers. Best is to educate everyone that investment can pay off but stay away from fancy gimmicks,lights and stop falling for outlook presentation. Everything can be a fake!

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