Continuing the same vein as money laundering but focusing on commercial cons and not just average street cons. An area that fascinates me. My neighbor is a convicted conman so I'll start with his con:
1. Fake prawn/fish/plantations. You hire a hotel room, get hold of a good mailing list and set it up. Wine and dine the shit out of the patrons multiple times and sell them a prawn farm in Indonesia or Malaysia. Sure it's real but they never own it. According to my neighbor you don't cut and run, you keep claiming issues with it for such a long time your mark gives up and writes it off. He got caught and bankrupted and now his property
is in his daughters name but whatever.
2. Fake invoicing. This method was pretty common in the 80's when I moved here. ACRA and MAS have wiped it out. You send invoices in company names similar to real ones ("Singtal") hoping a % get paid, as bank account control was not that strong in the 80's you have a company account set up the same. A variation is to create fake business services (like a yellow pages) but it never gets printed. I swear I think this is how "Green Book" started.
3. Agency remuneration. This is a classic. You come across a legitimate business field that needs equipment from a company overseas. You get the agency. You work it fine but you gradually convince the supplier to send the goods unpaid (back-back financing) while you wait for the payments. You work the buyer end to convince them to place a HUGE order in one shot (say 500 fire trucks instead of 50) for a discount. You then take their payment, get the firetrucks shipped but never pay the manufacturer for them. You duck and run. Worse still if you can double sell the fire trucks on to someone else. I know someone several million better off for that deal.
4. Bunkerage siphoning. A business I came across here claims that ships routinely lose 20% of their bunkerage to pilferage on a voyage. That's enough to kill their profit margin. The guys interrupt the engine feed and fill drums and dump them overboard to be picked up by their cohorts.
Online research has helped kill a lot of these old schools ones off but of course the internet has brought it's own challenges.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
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Your rugrat needs a School? Avoid for profit schools
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You ran away without doing NS? Shame on you!