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Mon, Mar 04 2024, 10:48:45Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1234[5]678910 ]
Subject: LGM Singapore - Potential $40million scam


Author:
My Conscience Requires...
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Date Posted: Fri, Nov 25 2005, 14:19:59

I am a former employee of Leisure Group Marketing Singapore and I am writing this because my conscience demands that I speak out for the thousands of Singaporean, Malaysian and Indonesians who have been scammed over the last 10 years

Now there are many notes about the way in which LGM acquires new members throught deception and this is basically true. This is common knowledge. What is not known is that they willingly purchase member data from employees of the timeshare exchange company "Resorts Condominium International" (RCI). Recently one of the RCI employees was charged with theft - what about the recipients of the data?

When I started with this company, I was somewhat niaive to the world of timeshare and actually believed the sales pitch of saving people up to 70% on cost of their holidays. It didn't take long however to find out what goes on behind the scenes.
I cannot speak about other "companies in a similar line of business" as I have no direct knowledge of their operation but with regards to LGM, I have seen and regrettably supported appauling business ethics and practices.
Stephan Tornros (former Managing Director) is mentioned many times as the instigator but he was simply an employee, like myself. We were puppets and the man holding the strings is an American, Dwayne Hill - the owner of LGM in Singapore, Hong Kong and Taiwan. He is and has always been aware of exectly what is going on with his company. Furthermore, he is the recipient of profits generated through these questionable practices.

LGM Members beware: If you had your membership upgraded or traded a membership for CVC with the cash-back option, when your cash-back date comes up, do not delay to collect. You were promised to be paid your membership fees in full by their Customer Care Division and Members Division. Didn't they tell you that the funds would be invested in the Hang Seng? 15% of the membership fees was stuck into HSBC in Singapore and the rest sunk back into the company with profits being sent to the Isle of Man off-shore account.
With more than 6000 members in Singapore due to receive cash-back of $3K - $7K in 2006/07. This means that Dwayne Hill will have to pay out somewhere between $18 - $42 million SGD over the next 2 years. Considering that total annual revenue for LGM Singapore is less than $20 million, it is likely that you will never receive your cash-back. Dwayne Hill will simply leave Singapore and use his ill-gotten gains to set-up another equally dodgy operation.
LGM will come crashing down very soon and the money will be gone.

I could provide names of other senior management directly involved in this but I feel that the primary responsibility falls on Dwayne Hill's shoulders. He has the power to do the right thing but chooses not to and is happy collecting the profits. Furthermore, he has set this up so that it will be his Singaporean employees who take the fall when it come crashing down. After all - the authorised signatory is Singaporean!

Ex LGM Employee

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[> Subject: Re: LGM Singapore - Potential $40million scam


Author:
George
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Date Posted: Mon, Nov 28 2005, 21:37:30

Hi, my friend. Thank u for the revelation. This would be a big eye-opener for all those people who have been conned and made to convert their membership from Timeshare to CVC or some form of holiday club membership with promises of cashbacks etc. I believe u are an altruistic person. Would you then be willing to testify or come out in the open and make your claims for those people already victims or future potential victims? And clear your conscience in the process? Sent me a private email at hphempra@singnet.com.sg if u want to let me know privately. Thank you.

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