Singapore – A 68-year-old man in Singapore lost about $70,000 of his life savings to a bogus “AI Robot” investment platform, even after his own son warned him it was a scam. The victim, referred to by the pseudonym “James,” was drawn into the scheme by a woman he met on TikTok who claimed to be from Malaysia.
According to a news report from AsiaOne, James first put roughly $40,000 into the fake platform in November 2025. He believed the woman when she said she worked for a company running an exclusive “AI Robot” trading tool for Bitcoin that outsiders could not access.
How the Scam Unfolded
The pair chatted online for weeks about everyday topics before she pitched the “opportunity.” James was hesitant at first, but the friendly conversations built trust. Soon he opened his own account and began depositing money every few days in amounts ranging from $1,000 to over $4,000.
At first, everything looked promising. His balance appeared to grow, and returns of up to 10 per cent showed up “in a minute.” Then the trouble started.
- His funds were suddenly “blocked” at a supposed crypto exchange.
- Customer service blamed a “poor network connection” and told him to deposit more to release the money.
- Scammers set time limits, warning he would lose everything if he did not pay quickly.
Family Warnings Ignored
When James asked his son for a loan, the younger man inspected the website and searched government directories for the product. He found nothing legitimate and concluded it was a scam. They filed a police report in late November.
Still, James was not convinced. Without telling his family, he kept feeding money into the platform. The scammers then claimed his account “trust score” had dropped to 60 out of 100. To withdraw, he needed 80 points — with each point costing $2,000.
The final blow came in December, when they demanded a 20 per cent “tax” before releasing his funds. That was when reality finally hit him.
A Growing Problem in Singapore
Investment scams remain the third most reported scam type in Singapore. In the first half of 2026 alone, police logged 2,256 such cases, with victims losing a combined $169.8 million.
James now shares a hard-earned message for others, especially families with elderly relatives.
“I want to tell the public to communicate more with their family on investment matters,” he said. “When you are inside the scheme, you won’t be clearheaded.”