22/08/2026
The Tradenation and Tradeluxury saga still not over sia.
A 30-year-old Singaporean, Yap Lee Peng Somchai, was charged on Aug 21 with transferring property allegedly linked to criminal benefits, and failing to exercise reasonable diligence as a company director.
Between May and August 2022, police received 187 reports from customers who said they paid in full for luxury watches and bags — but barang never come.
Somchai was then a director of Tradeluxury and an authorised signatory for its bank account. Two others in the case already kena jailed: main decision-maker Pansuk Siriwipa got 14 years, while director Pi Jiapeng got 5 years and 10 months.
Meanwhile, Thai authorities provisionally seized several properties in Thailand in June 2026. Singapore’s CAD is now helping victims consolidate their claims for possible asset recovery, subject to Thai law.
After four years, could some victims finally get part of their money back?
This is Truly SG 🇸🇬
Source: Singapore Police Force.