Caution piece for Tradenation Tradeluxury Rolex

Updated: 5th July 2022 In the beginning of May this year, I paid SGD30,000 for a Rolex GMT-Master II 126711CHNR and was promised a delivery date on 1st June but the watch did not arrive. Instead, the admin of Tradenation / Tradeluxury kept on using different reasons which is merely delay tactics to keep asking me to wait with no commitment on the exact date when I will be getting my order fulfilled. Yes I was greedy and gullible. For those who are in the same plight, I urge you to stop pinning hopes. At least, do something than just wait and allow the daily rhetoric to start becoming 'normal' to you. When retail companies don't fulfil their contracts within the agreed timeframe, they don't handle situations in such a dubious manner. This is not normal. As of now, both Tradenation and Tradeluxury are under police investigation and both companies' corporate accounts are freeze. This basically means that access into the bank accounts are blocked and nobody can perform any transactions on these account. The accounts can no longer received any incoming funds too. At least there will not be anymore unknowing victims paying them hoping for something that will not be fulfilled. Do note that as of now, only Tradenation's and Tradeluxury's corporate accounts were frozen. The owner's personal accounts are still accessible. This is just some information for those who wish to know but it is certainly nothing substantial from these findings alone. If you are one who had been scammed, for the record, YOU MUST lodge a police report. Please take note that this step is crucial and it is totally a SEPARATE issue from recovering your lost funds. The report is mainly to allow SPF to at least have a grasp of the total damage they have caused so far. These facts will be needed for AGC and eventually, if they are convicted, it also provides a guidance for the prosecutors to recommend an appropriate sentence in court. An investigation procedure will first start with an arrest to take their statements as well as gathering of evidences through their phones, computer records and bank transactions. The IO will then collate everything properly with a final report to AGC. I believe they are now being investigated under sections 405 to 409 of the Penal Code - Criminal Breach of Trust (CBT). This process will be around 12 months to completed depending on the complexity of the case. Referencing to a previous case surrounding City Harvest Church, the investigation took 2 years from May 2010 to June 2012 .In the case of Sunshine Empire, the investigation took around 15 months between November 2007 and February 2009. Moving on, I would not know what can be concluded from the investigations and if the IO is able to gather enough evidence to present it to AGC. Ultimately, I also cannot be sure if AGC finds the evidences compelling enough to press charges. To proceed with that, AGC will need to be confident that they are able to prove that the accused are guilty BEYOND REASONABLE DOUBT. This will take another 1-2 months to deliberate. If charges are pressed, the accused will need to be charged in court and the judge will decide if they can be granted bail and if they can, what will be the bail amount? This decision will be fully relied on the prosecutors’ recommendation. Reference to City Harvest Church’s CBT case, each accused’s bail was set at $500,000 and for Sunshine Empire, $600,000 each. Once they are charged, the time the whole trial might take including monthly hearing, prosecutor’s conclusive decision on the charges, defence lawyer’s negotiations, pre-trial conferences and their sentencing day is dependent on many factors. Whether or not they will plead guilty or claim trial, whether if they will appeal the sentence after it is read just to list a couple of them. Referencing to the case of City Harvest Church, they were charged in June 2012 and most of the accused only started serving their sentence around 5 years later and one of them, Chew, started serving around 10 years later in Feb 2022. On the other hand, for Sunshine Empire’s case, their whole court proceeding was around 18 months in total. How about the plausible sentence they might face? I can only use the 2 cases I used earlier as a reference. Sunshine Empire, lured Singaporeans into handing over nearly $190 million. James Phang Wah, the founder and "international president" of the now-defunct multi-level marketing firm, Sunshine Empire was sentenced to nine years' jail and fined $60,000. It stated that there were misconduct and mismanagement in the administration of City Harvest Church. There were irregularities of at least $23 million in the church's funds, which were used to finance Sun Ho's secular music career. Kong Hee was seen to be the "key man" behind the scandal who had guided his five accomplices by the Singapore court of three charges of criminal breach of trust. He was sentenced to 8 years, reduced to 3 years 6 months imprisonment on appeal. I know the ultimate question that many of you are having now is "can I get my money back?" the quick answer to this will be I don't know because I don't have a crystal ball to see the future. Let's not speculate and think about issues that are not within our control. The methods you can consider to take as an attempt to recover your money includes but not limited to the following: - File a claim through Small Claims Tribunal. This method will only allow you to seek for a claim up to SGD20,000 only. - Engage a lawyer to officially send a letter of demand and to prepare to sue them in civil court if they do not respond. Be prepared that the legal cost involving such case will be very costly. - If you are able to find or contact them directly, try to engage them for a discussion and agree on a resolution - though I must say based on their track record where they obviously have no regards to the law, constantly perpetuates falsehoods with no basis at all, this method will likely not work. They also do not have any compassion towards another human being. I don't think logic will work with people with such a mindset. Take note： • Every method has its pros and con. • There is no guarantee that your funds can partially or fully be recovered using any of the above methods. • For most debts, the time limit is 6 years. I am unsure if this apply to such case. You must wholeheartedly accept the fact that it is unlikely you will be able to recover the funds. After you have exhausted all methods, there must be a time you need to tell yourself to move on and heal from that point. I hope you will find new courage to face tomorrow. Keywords: Tradenation / tradenation.sg / Tradeluxury / Pre Order / Brand New / Rolex / Submariner No Date 124060 / Rolex Submariner With Date 126610LN / Rolex GMT-Master II Pepsi 126710BLRO / 116500LN Daytona Pnada / Daytona Godzilla / Batman Batgirl 126710BLNR / 326934 Sky Dweller / patek philippe / audemars piguet / AP Royal Oak / 15500ST / 26331ST / 15202OR / Nautilus /