SINGAPORE — The Singapore Police Force is advising the public to be vigilant when receiving unsolicited calls from recovery or litigation firms after reports of calls targeting former investors of failed gold investment companies.

In a press release on Friday (July 19), the police said the callers claimed that they were from litigation or recovery companies and had offered to help the investors recover their investments in the failed companies via “civil proceedings or other methods, in return for a fee”.

The calls targeted investors of failed companies including Genneva, Asia Pacific Bullion and The Gold Guarantee.

The police said in some cases, the callers had offered to buy gold bars at prices higher than the prevailing market prices or the investors’ original purchase price.

However, the authorities added that in return, the investors were then asked to “re-invest” their sales proceeds into an alternative investment scheme that promised attractive returns and guaranteed capital protection over a short period of time.

The police said that members of the public should be vigilant when receiving such calls and should adopt the following crime prevention measures:

• Be wary when an unknown person calls you regarding your investments, especially when you did not approach anyone to recover your investment monies.

• Ignore such calls. Do not divulge your personal particulars or information on your investments to the callers.

• Do not follow the instruction or invitation of the caller to call him back or to meet him in person.

Those who wish to provide information related to such scams can call the police hotline at 1800-255-0000, or submit it online at www.police.gov.sg/iwitness.

To seek scam-related advice, the public may call the National Crime Prevention Council’s anti-scam helpline at 1800-722-6688 or visit www.scamalert.sg.