David Rasif - Revision history

Kimberly Wong at 03:06, 10 November 2022

2022-11-10T03:06:06Z

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	Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park however, he failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref> After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, six others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further investigations, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>		Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park however, he failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref> After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, six others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further investigations, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>
	==References / Citations==		==References / Citations==
	[[Category:~~Singapore~~ Criminals]]		[[Category: Criminals]]
	<references />		<references />

Kimberly Wong: Add Sub-category

2022-11-03T23:24:10Z

Add Sub-category

← Older revision		Revision as of 07:24, 4 November 2022
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	Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park however, he failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref> After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, six others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further investigations, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>		Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park however, he failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref> After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, six others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further investigations, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>
	==References / Citations==		==References / Citations==
	[[Category:~~People of Interest~~]]		[[Category:Singapore Criminals]]
	<references />		<references />

Kimberly Wong at 07:46, 19 September 2022

2022-09-19T07:46:02Z

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	{{Infobox person		{{Infobox person
	\| image = David Rasif Photograph Collage.~~jpg~~		\| image = David Rasif Photograph Collage.png
	\| birth_date = 1964		\| birth_date = 1964
	\| education = Bachelor of Laws		\| education = Bachelor of Laws

Kimberly Wong at 07:45, 19 September 2022

2022-09-19T07:45:32Z

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	{{Infobox person		{{Infobox person
	\| image = David Rasif Photograph Collage .jpg		\| image = David Rasif Photograph Collage.jpg
	\| birth_date = 1964		\| birth_date = 1964
	\| education = Bachelor of Laws		\| education = Bachelor of Laws

Kimberly Wong at 07:42, 19 September 2022

2022-09-19T07:42:55Z

Show changes

Dayana Rizal: /* Background */

2020-07-30T08:32:35Z

Background

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	==Background==		==Background==
	[[File:David Rasif & Joyce Fong 2006.jpg\|thumb\|''David Rasif and Joyce Fong pictured in April 2006. Photos from [https://www.malaysianbar.org.my/bar_news/berita_badan_peguam/missing_lawyer_case_shocks_singapore_cj.html The Malaysian Bar].'']]		[[File:David Rasif & Joyce Fong 2006.jpg\|thumb\|''David Rasif and Joyce Fong pictured in April 2006. Photos from [https://www.malaysianbar.org.my/bar_news/berita_badan_peguam/missing_lawyer_case_shocks_singapore_cj.html The Malaysian Bar].'']]
	David Rasif was last seen in Singapore on 2 June 2006 having lunch with a colleague from his law firm. He told his colleague that he was leaving for Bangkok later that day.<ref>Balvinder Sandhu. “[https://books.google.com.sg/books/about/Financial_Fraud.html?id=xSWJAAAAQBAJ&redir_esc=y Financial Fraud: Money scams, embezzlement and swindles in Singapore]”. ''Marshall Cavendish International Asia Pte Ltd.'' April 20, 2013. Accessed 29 November 2019.</ref> He was last seen in Bangkok on 5 June 2006 by his wife, Joyce Fong. He had accompanied her to Bangkok for a company function. It is understood that the couple did not travel together. ~~However, when Joyce left Bangkok for Singapore,~~ Rasif did not ~~follow her~~ back~~. Instead~~, ~~he said~~ that he ~~needed~~ to go to Japan to meet a client.<ref>“Left in the lurch, wife divorces Rasif; She is trying to pick up the pieces after lawyer fled with $10 million of clients’ money.” ''TODAY.'' October 4, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref>		David Rasif was last seen in Singapore on 2 June 2006 having lunch with a colleague from his law firm. He told his colleague that he was leaving for Bangkok later that day.<ref>Balvinder Sandhu. “[https://books.google.com.sg/books/about/Financial_Fraud.html?id=xSWJAAAAQBAJ&redir_esc=y Financial Fraud: Money scams, embezzlement and swindles in Singapore]”. ''Marshall Cavendish International Asia Pte Ltd.'' April 20, 2013. Accessed 29 November 2019.</ref> He was last seen in Bangkok on 5 June 2006 by his wife, Joyce Fong. He had accompanied her to Bangkok for a company function. It is understood that the couple did not travel together. David Rasif did not accompany his wife back to Singapore, saying that he had to go to Japan to meet a client instead.<ref>“Left in the lurch, wife divorces Rasif; She is trying to pick up the pieces after lawyer fled with $10 million of clients’ money.” ''TODAY.'' October 4, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref>
	===Family===		===Family===
	David Rasif was married to his high school sweetheart Joyce Fong Foong Chao, a former NUS Students Union (NUSSU) pageant Queen<ref>“[https://law.nus.edu.sg/alumni/pdfs/LAWLINK_Pg1-24.pdf LawLink]”. ''NUS Law School''. Accessed 28 November 2019.</ref> and a Corporate Governance Advisor for Asia Pacific and Australasia at World Vision as of 2019.<ref>“[https://www.linkedin.com/in/joyce-fong-5090731b/?originalSubdomain=sg Joyce Fong Profile]”. ''LinkedIn.'' Accessed 28 November 2019.</ref> Together, the couple has three daughters, DJ [[Jade Rasif]], bodybuilder [[Tyen Rasif]] and student Khym Fong.<ref>“The rocker who fooled everybody”. ''Channel News Asia.'' June 9, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref> Following their divorce, Joyce Fong has sole custody over their three daughters and was entitled to a $1.5 million maintenance claim from her ex-husband.<ref>Fong, Tanya. “Rasif’s ex-wife gets custody of her children”. ''The Straits Times.'' November 1, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> As reported in 2013, the family lived in a condominium unit at Trellis Tower, Toa Payoh while owning another unit at Costa Rhu.<ref>Balvinder Sandhu. “[https://books.google.com.sg/books/about/Financial_Fraud.html?id=xSWJAAAAQBAJ&redir_esc=y Financial Fraud: Money scams, embezzlement and swindles in Singapore]”. ''Marshall Cavendish International Asia Pte Ltd.'' April 20, 2013. Accessed 29 November 2019.</ref>[[File:Joyce Fong and Tyen Rasif.jpg\|thumb\|''Joyce Fong (left) pictured with her second daughter, Tyen Rasif (right). Retrieved from [https://rankersta.com/media/2042844388309552368 source].'']]		David Rasif was married to his high school sweetheart Joyce Fong Foong Chao, a former NUS Students Union (NUSSU) pageant Queen<ref>“[https://law.nus.edu.sg/alumni/pdfs/LAWLINK_Pg1-24.pdf LawLink]”. ''NUS Law School''. Accessed 28 November 2019.</ref> and a Corporate Governance Advisor for Asia Pacific and Australasia at World Vision as of 2019.<ref>“[https://www.linkedin.com/in/joyce-fong-5090731b/?originalSubdomain=sg Joyce Fong Profile]”. ''LinkedIn.'' Accessed 28 November 2019.</ref> Together, the couple has three daughters, DJ [[Jade Rasif]], bodybuilder [[Tyen Rasif]] and student Khym Fong.<ref>“The rocker who fooled everybody”. ''Channel News Asia.'' June 9, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref> Following their divorce, Joyce Fong has sole custody over their three daughters and was entitled to a $1.5 million maintenance claim from her ex-husband.<ref>Fong, Tanya. “Rasif’s ex-wife gets custody of her children”. ''The Straits Times.'' November 1, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> As reported in 2013, the family lived in a condominium unit at Trellis Tower, Toa Payoh while owning another unit at Costa Rhu.<ref>Balvinder Sandhu. “[https://books.google.com.sg/books/about/Financial_Fraud.html?id=xSWJAAAAQBAJ&redir_esc=y Financial Fraud: Money scams, embezzlement and swindles in Singapore]”. ''Marshall Cavendish International Asia Pte Ltd.'' April 20, 2013. Accessed 29 November 2019.</ref>[[File:Joyce Fong and Tyen Rasif.jpg\|thumb\|''Joyce Fong (left) pictured with her second daughter, Tyen Rasif (right). Retrieved from [https://rankersta.com/media/2042844388309552368 source].'']]

Dayana Rizal at 04:25, 30 July 2020

2020-07-30T04:25:15Z

← Older revision		Revision as of 12:25, 30 July 2020
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	====Shell company (British Virgin Islands)====		====Shell company (British Virgin Islands)====
	In December 2005, David Rasif registered a company called ''Ingenious Ideas International'' on the British Virgin Islands. He then opened a bank account in Hong Kong under that company’s name. On 1 June 2006, David Rasif wired $4.13 million (HK$~~20m~~) to the account. It is ~~to be~~ believed that ''Ingenious Ideas International'' was a shell company since no staff from the company showed up at the Hong Kong hearing.<ref>“American couple suing for $11m”. ''The New Paper.'' October 20, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref><ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>		In December 2005, David Rasif registered a company called ''Ingenious Ideas International'' on the British Virgin Islands. He then opened a bank account in Hong Kong under that company’s name. On 1 June 2006, David Rasif wired $4.13 million (HK$20 million) to the account. It is believed that ''Ingenious Ideas International'' was a shell company since no staff from the company showed up at the Hong Kong hearing.<ref>“American couple suing for $11m”. ''The New Paper.'' October 20, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref><ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>

	==Property cashback scam (2004)==		==Property cashback scam (2004)==

Dayana Rizal: /* George Raymond Zage III & Kaori Kathleen Zage */

2020-07-30T04:16:32Z

George Raymond Zage III & Kaori Kathleen Zage

← Older revision		Revision as of 12:16, 30 July 2020
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	===George Raymond Zage III & Kaori Kathleen Zage===		===George Raymond Zage III & Kaori Kathleen Zage===
	Of the S$11.3 million Rasif absconded with, more than S$10 million came from George Zage and Kaori Zage.<ref>Lum, Selina. “Lost millions: Pair lose gem-sale suit”. ''The Straits Times.'' December 31, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage met Rasif in 2005 when they were looking to purchase a bungalow on Belmont Road. On 23 May 2006, Mrs Zage wrote a $10.7 million cheque to Rasif for him to complete the property transaction.<ref>Koh, Kian Beng. “All they wanted was to buy DREAM HOME What they got was a $10m Nightmare”. ''The New Paper.'' June 28, 2007. Accessed 11 December 2019. Retrieved from NewspaperSG.</ref> She told Justice Woo Bih Li in a court hearing that she was comfortable and trusted Rasif with her money~~. Rasif also assured her that he was ''“in constant communication”'' with the buyers despite not showing any proper documentation~~.<ref>“Tears over a $10.7m cheque; Mrs Zage breaks down when questioned why she left money with Rasif”. ''TODAY.'' June 28, 2007. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> In July 2006, Mr and Mrs Zage requested in court for Jewel’s Defred to freeze $2.08 million worth of assets. This amounts to what Rasif had given the jewellery dealer using the couple’s money.<ref>Ng, Ansley. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20060721-1.2.11.5?ST=1&AT=search&k=jewels+defred&P=2&QT=jewels,defred&oref=article Court sets aside assets-freeze injunction]”. ''TODAY.'' July 21, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage lost the lawsuit against Jewel DeFred and its owner, Fred Ho Chi Kwong.<ref>“$2m of gems buy in 4 days ‘not unusual’”. ''The Straits Times.'' September 4, 2007. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> The couple also obtained an interim court order to freeze the $4 million that Rasif had wired to the Hong Kong bank on 1 June 2006. On 29 October 2006, the Hong Kong court said that they will return $4.13 million to the American couple.<ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>		Of the S$11.3 million Rasif absconded with, more than S$10 million came from George Zage and Kaori Zage.<ref>Lum, Selina. “Lost millions: Pair lose gem-sale suit”. ''The Straits Times.'' December 31, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage met Rasif in 2005 when they were looking to purchase a bungalow on Belmont Road. On 23 May 2006, Mrs Zage wrote a $10.7 million cheque to Rasif for him to complete the property transaction.<ref>Koh, Kian Beng. “All they wanted was to buy DREAM HOME What they got was a $10m Nightmare”. ''The New Paper.'' June 28, 2007. Accessed 11 December 2019. Retrieved from NewspaperSG.</ref> She told Justice Woo Bih Li in a court hearing that she was comfortable and trusted Rasif with her money.<ref>“Tears over a $10.7m cheque; Mrs Zage breaks down when questioned why she left money with Rasif”. ''TODAY.'' June 28, 2007. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> In July 2006, Mr and Mrs Zage requested in court for Jewel’s Defred to freeze $2.08 million worth of assets. This amounts to what Rasif had given the jewellery dealer using the couple’s money.<ref>Ng, Ansley. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20060721-1.2.11.5?ST=1&AT=search&k=jewels+defred&P=2&QT=jewels,defred&oref=article Court sets aside assets-freeze injunction]”. ''TODAY.'' July 21, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage lost the lawsuit against Jewel DeFred and its owner, Fred Ho Chi Kwong.<ref>“$2m of gems buy in 4 days ‘not unusual’”. ''The Straits Times.'' September 4, 2007. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> The couple also obtained an interim court order to freeze the $4 million that Rasif had wired to the Hong Kong bank on 1 June 2006. On 29 October 2006, the Hong Kong court said that they will return $4.13 million to the American couple.<ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>
	===56 other claimants===		===56 other claimants===
	Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park~~. Rasif~~ failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref> After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, 6 others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further ~~investigation~~, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>		Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park however, he failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref> After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, six others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further investigations, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>
	==References / Citations==		==References / Citations==
	[[Category:People of Interest]]		[[Category:People of Interest]]
	<references />		<references />

Dayana Rizal: /* Disappearance */

2020-07-30T04:14:15Z

Disappearance

← Older revision		Revision as of 12:14, 30 July 2020
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	In May 2006, David Rasif asked his long-time friend, Freddy Lim Soon Kiang to open a bank account in Vietnam. He then transferred US$620,000 (~S$985,180) from a client’s account to the bank in Ho Chi Minh. On 1 June 2006, Freddy Lim withdrew US$600,000 over two days.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> Freddy Lim stayed at the Luxury Sofitel Plaza hotel in Ho Chi Minh where he would pass US$500,000 in cash to man named “Nick Leong”. Although David Rasif had asked Freddy to transfer the remaining money back to Singapore, Freddy closed the account and kept US$88,650 for himself.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref><ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> David Rasif's former clients, George and Kaori Zage filed a multi-million lawsuit against Freddy Lim. In June 2007, he represented himself in court and pleaded for the charges to be dropped.<ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> Freddy Lim then disappeared and has been at large since November 2007. According to ''TODAY'', he sold his pub, Actors' Bar and also owed money to multiple parties. He sent a letter to the new owners of Actors’ Bar saying “here, there, everything (sic) asking me for money… Too much pressure (sic) that I had to run away from it all. Sorry!”.<ref>Ng, Anlsey. “Rogue lawyer’s case: Warrant arrest for ex-pub owner”. ''TODAY.'' January 29, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref>		In May 2006, David Rasif asked his long-time friend, Freddy Lim Soon Kiang to open a bank account in Vietnam. He then transferred US$620,000 (~S$985,180) from a client’s account to the bank in Ho Chi Minh. On 1 June 2006, Freddy Lim withdrew US$600,000 over two days.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> Freddy Lim stayed at the Luxury Sofitel Plaza hotel in Ho Chi Minh where he would pass US$500,000 in cash to man named “Nick Leong”. Although David Rasif had asked Freddy to transfer the remaining money back to Singapore, Freddy closed the account and kept US$88,650 for himself.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref><ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> David Rasif's former clients, George and Kaori Zage filed a multi-million lawsuit against Freddy Lim. In June 2007, he represented himself in court and pleaded for the charges to be dropped.<ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> Freddy Lim then disappeared and has been at large since November 2007. According to ''TODAY'', he sold his pub, Actors' Bar and also owed money to multiple parties. He sent a letter to the new owners of Actors’ Bar saying “here, there, everything (sic) asking me for money… Too much pressure (sic) that I had to run away from it all. Sorry!”.<ref>Ng, Anlsey. “Rogue lawyer’s case: Warrant arrest for ex-pub owner”. ''TODAY.'' January 29, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref>

	==== Shell company (British Virgin Islands) ====		====Shell company (British Virgin Islands)====
	In December 2005, David Rasif registered a company called ''Ingenious Ideas International'' on the British Virgin Islands. He then opened a bank account in Hong Kong under that company’s name. On 1 June 2006, David Rasif wired $4.13 million (HK$20m) to the account. It is to be believed that ''Ingenious Ideas International'' was a shell company since no staff from the company showed up at the Hong Kong hearing.<ref>“American couple suing for $11m”. ''The New Paper.'' October 20, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref><ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>		In December 2005, David Rasif registered a company called ''Ingenious Ideas International'' on the British Virgin Islands. He then opened a bank account in Hong Kong under that company’s name. On 1 June 2006, David Rasif wired $4.13 million (HK$20m) to the account. It is to be believed that ''Ingenious Ideas International'' was a shell company since no staff from the company showed up at the Hong Kong hearing.<ref>“American couple suing for $11m”. ''The New Paper.'' October 20, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref><ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>

	==Property cashback scam (2004)==		==Property cashback scam (2004)==
	Rasif was investigated for a property cashback scam that started in 2004. A cashback scam is when a property agent overvalues the price of a property to both the buyers and sellers or their agent. A total of 22 people were charged for the following:		David Rasif was also investigated for a property cashback scam that started in 2004 where S$$1 million had been pocketed by several parties over the sales of 22 properties.<ref>Leong, Wee Keat. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20090827-1.2.6.9?ST=1&AT=search&k=Property%20agent%20jailed%20for%20cashback%20scam&QT=property,agent,jailed,for,cashback,scam&oref=article 22 in property cashback scam]”. ''TODAY''. August 27, 2009''.'' Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> A cashback scam is when a property agent overvalues the price of a property to both the buyers and sellers or their agent. A total of 22 people were charged for the following:
	{\| class="wikitable"		{\| class="wikitable"
	!Charge		!Charge
	!No. of People Charged		!No. of People Charged
			!Refs.
	\|-		\|-
	\|Conspiring to cheat banks or the CPF board		\|Conspiring to cheat banks or the CPF board
	\|15		\|15
			\| rowspan="3" \|<ref>Leong, Wee Keat. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20090827-1.2.6.9?ST=1&AT=search&k=Property%20agent%20jailed%20for%20cashback%20scam&QT=property,agent,jailed,for,cashback,scam&oref=article 22 in property cashback scam]”. ''TODAY''. August 27, 2009''.'' Accessed 29 November 2019. Retrieved from NewspaperSG.</ref>
	\|-		\|-
	\|Providing false information to the Commercial Affairs Department		\|Providing false information to the Commercial Affairs Department
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	\|4		\|4
	\|}		\|}
	S$1 million dollars was pocketed by several parties involved in the scam over the sales of 22 properties.<ref>Leong, Wee Keat. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20090827-1.2.6.9?ST=1&AT=search&k=Property%20agent%20jailed%20for%20cashback%20scam&QT=property,agent,jailed,for,cashback,scam&oref=article 22 in property cashback scam]”. ''TODAY''. August 27, 2009''.'' Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> Among the people involved were ~~Lawyers~~ David Rasif and David Tan and ~~Property Agent~~ Goh Chong Liang.<ref>Chong, Elena. “Rasif’s ex-partner hauled to court’. ''The Straits Times.'' August 15, 2008. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref> Goh, a former ~~Director~~ of a real estate company, conspired with Rasif and Tan to overvalue the price of a flat to a buyer~~. This grants the buyer a higher loan from the Central Provision Board (CPF)~~.<ref>“[http://propertyhighlights.blogspot.com/2007/07/source-straits-times-july-26-2007.html Runaway Lawyer David Rasif Fingered in Property Cashback Case]”. ''The Straits Times.'' July 26, 2007. Accessed 29 November 2019.</ref> Goh inflated the housing price by including "costs of renovation" from a shell company. It is understood that Goh played a part in setting up the shell company~~. After the sale, those involved in the scam received a portion from the difference between the inflated sale price and the actual price~~.<ref>“[http://propertyhighlights.blogspot.com/2007/07/source-straits-times-july-26-2007.html Runaway Lawyer David Rasif Fingered in Property Cashback Case]”. ''The Straits Times.'' July 26, 2007. Accessed 29 November 2019.</ref> ~~According to a court hearing reported by ''Channel News Asia'',~~ Peter Fernando, Goh’s defense lawyer, ~~said~~ the brains behind the scam operations ~~was Rasif~~. Goh claimed that when investigations started in 2005, Rasif had him forge the documents used to trick Commercial Affairs Department (CAD) investigators. Tan ~~and Goh were~~ given a 5 years, ~~5 months and 5~~ years jail ~~term respectively~~.<ref>"Property agent jailed for cashback scam”. ''Channel News Asia.'' August 3 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref>		Among the people involved were the lawyers David Rasif and David Tan, and the property agent Goh Chong Liang.<ref>Chong, Elena. “Rasif’s ex-partner hauled to court’. ''The Straits Times.'' August 15, 2008. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref> Goh, a former director of a real estate company, conspired with Rasif and Tan to overvalue the price of a flat to a buyer.<ref>“[http://propertyhighlights.blogspot.com/2007/07/source-straits-times-july-26-2007.html Runaway Lawyer David Rasif Fingered in Property Cashback Case]”. ''The Straits Times.'' July 26, 2007. Accessed 29 November 2019.</ref> Goh inflated the housing price by including "costs of renovation" from a shell company. It is understood that Goh played a part in setting up the shell company.<ref>“[http://propertyhighlights.blogspot.com/2007/07/source-straits-times-july-26-2007.html Runaway Lawyer David Rasif Fingered in Property Cashback Case]”. ''The Straits Times.'' July 26, 2007. Accessed 29 November 2019.</ref> Peter Fernando, Goh’s defense lawyer, claimed that David Rasif was the brains behind the scam operations. Goh claimed that when investigations started in 2005, Rasif had him forge the documents used to trick Commercial Affairs Department (CAD) investigators. While David Tan was given a five years and five months jail term, Goh Chong Liang was charged to five years in jail.<ref>"Property agent jailed for cashback scam”. ''Channel News Asia.'' August 3 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref>
	==Victims==		==Victims==
	David Rasif had swindled a variety of people, most notably the married couple - George and Kaori Zage.		David Rasif had swindled a variety of people, most notably the married couple - George and Kaori Zage.
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	Of the S$11.3 million Rasif absconded with, more than S$10 million came from George Zage and Kaori Zage.<ref>Lum, Selina. “Lost millions: Pair lose gem-sale suit”. ''The Straits Times.'' December 31, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage met Rasif in 2005 when they were looking to purchase a bungalow on Belmont Road. On 23 May 2006, Mrs Zage wrote a $10.7 million cheque to Rasif for him to complete the property transaction.<ref>Koh, Kian Beng. “All they wanted was to buy DREAM HOME What they got was a $10m Nightmare”. ''The New Paper.'' June 28, 2007. Accessed 11 December 2019. Retrieved from NewspaperSG.</ref> She told Justice Woo Bih Li in a court hearing that she was comfortable and trusted Rasif with her money. Rasif also assured her that he was ''“in constant communication”'' with the buyers despite not showing any proper documentation.<ref>“Tears over a $10.7m cheque; Mrs Zage breaks down when questioned why she left money with Rasif”. ''TODAY.'' June 28, 2007. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> In July 2006, Mr and Mrs Zage requested in court for Jewel’s Defred to freeze $2.08 million worth of assets. This amounts to what Rasif had given the jewellery dealer using the couple’s money.<ref>Ng, Ansley. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20060721-1.2.11.5?ST=1&AT=search&k=jewels+defred&P=2&QT=jewels,defred&oref=article Court sets aside assets-freeze injunction]”. ''TODAY.'' July 21, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage lost the lawsuit against Jewel DeFred and its owner, Fred Ho Chi Kwong.<ref>“$2m of gems buy in 4 days ‘not unusual’”. ''The Straits Times.'' September 4, 2007. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> The couple also obtained an interim court order to freeze the $4 million that Rasif had wired to the Hong Kong bank on 1 June 2006. On 29 October 2006, the Hong Kong court said that they will return $4.13 million to the American couple.<ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>		Of the S$11.3 million Rasif absconded with, more than S$10 million came from George Zage and Kaori Zage.<ref>Lum, Selina. “Lost millions: Pair lose gem-sale suit”. ''The Straits Times.'' December 31, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage met Rasif in 2005 when they were looking to purchase a bungalow on Belmont Road. On 23 May 2006, Mrs Zage wrote a $10.7 million cheque to Rasif for him to complete the property transaction.<ref>Koh, Kian Beng. “All they wanted was to buy DREAM HOME What they got was a $10m Nightmare”. ''The New Paper.'' June 28, 2007. Accessed 11 December 2019. Retrieved from NewspaperSG.</ref> She told Justice Woo Bih Li in a court hearing that she was comfortable and trusted Rasif with her money. Rasif also assured her that he was ''“in constant communication”'' with the buyers despite not showing any proper documentation.<ref>“Tears over a $10.7m cheque; Mrs Zage breaks down when questioned why she left money with Rasif”. ''TODAY.'' June 28, 2007. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> In July 2006, Mr and Mrs Zage requested in court for Jewel’s Defred to freeze $2.08 million worth of assets. This amounts to what Rasif had given the jewellery dealer using the couple’s money.<ref>Ng, Ansley. “[https://eresources.nlb.gov.sg/newspapers/Digitised/Article/today20060721-1.2.11.5?ST=1&AT=search&k=jewels+defred&P=2&QT=jewels,defred&oref=article Court sets aside assets-freeze injunction]”. ''TODAY.'' July 21, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG. </ref> Mr and Mrs Zage lost the lawsuit against Jewel DeFred and its owner, Fred Ho Chi Kwong.<ref>“$2m of gems buy in 4 days ‘not unusual’”. ''The Straits Times.'' September 4, 2007. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> The couple also obtained an interim court order to freeze the $4 million that Rasif had wired to the Hong Kong bank on 1 June 2006. On 29 October 2006, the Hong Kong court said that they will return $4.13 million to the American couple.<ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>
	===56 other claimants===		===56 other claimants===
	Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park. Rasif failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>		Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park. Rasif failed to hand over the 10% deposit.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref> After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, 6 others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further investigation, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>


	After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, 6 others have lost about $2 million.<ref>K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. ''The Straits Times.'' June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG. </ref> After further investigation, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.<ref>K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. ''The Straits Times.'' March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html</ref>

	==References / Citations==		==References / Citations==
	[[Category:People of Interest]]		[[Category:People of Interest]]
	<references />		<references />

Dayana Rizal: /* Scams & money laundering activities */

2020-07-30T04:01:52Z

Scams & money laundering activities

← Older revision		Revision as of 12:01, 30 July 2020
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	On 1 June 2006, David Rasif spent S$1.65 million to purchase 47 1-kg gold bars from United Overseas Bank (UOB). The gold bars were placed in a briefcase and handed to Bernard Ong Ee Beng for “safe-keeping” at a Toa Payoh carpark.<ref>Chong, Elena. “[https://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20071119-37509.htm Man jailed for helping Rasif hide gold bars]”. ''The Straits Times.'' November 19, 2007. Accessed 29 November 2019.</ref> Bernard hid 28 gold bars for Rasif in his brother’s house at Kim Keat Avenue. He left the remaining 19 at accountant Lye Thiam Hock’s house. Both men were arrested on 31 July 2006 for abetting to a crime.<ref>Chong, Elena. “[https://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20071025-32203.html Man charged with helping fugitive lawyer Rasif hide 47 gold bars]”. ''The Straits Times.'' October 25, 2007. Accessed 29 November 2019.</ref>		On 1 June 2006, David Rasif spent S$1.65 million to purchase 47 1-kg gold bars from United Overseas Bank (UOB). The gold bars were placed in a briefcase and handed to Bernard Ong Ee Beng for “safe-keeping” at a Toa Payoh carpark.<ref>Chong, Elena. “[https://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20071119-37509.htm Man jailed for helping Rasif hide gold bars]”. ''The Straits Times.'' November 19, 2007. Accessed 29 November 2019.</ref> Bernard hid 28 gold bars for Rasif in his brother’s house at Kim Keat Avenue. He left the remaining 19 at accountant Lye Thiam Hock’s house. Both men were arrested on 31 July 2006 for abetting to a crime.<ref>Chong, Elena. “[https://www.asiaone.com/News/AsiaOne%2BNews/Singapore/Story/A1Story20071025-32203.html Man charged with helping fugitive lawyer Rasif hide 47 gold bars]”. ''The Straits Times.'' October 25, 2007. Accessed 29 November 2019.</ref>

	==== Money laundering (Vietnam) ====		====Money laundering (Vietnam)====
	In May 2006, David Rasif asked his long-time friend, Freddy Lim Soon Kiang to open a bank account in Vietnam. He then transferred US$620,000 (~S$985,180) from a client’s account to the bank in Ho Chi Minh. On 1 June 2006, Freddy Lim withdrew US$600,000 over two days.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> Freddy Lim stayed at the Luxury Sofitel Plaza hotel in Ho Chi Minh where he would pass US$500,000 in cash to man named “Nick Leong”. Although David Rasif had asked Freddy to transfer the remaining money back to Singapore, Freddy closed the account and kept US$88,650 for himself.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref><ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> David Rasif's former clients, George and Kaori Zage filed a multi-million lawsuit against Freddy Lim. In June 2007, he represented himself in court and pleaded for the charges to be dropped.<ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> Freddy Lim then disappeared and has been at large since November 2007. According to ''TODAY'', he sold his pub, Actors' Bar and also owed money to multiple parties. He sent a letter to the new owners of Actors’ Bar saying “here, there, everything (sic) asking me for money… Too much pressure (sic) that I had to run away from it all. Sorry!”.<ref>Ng, Anlsey. “Rogue lawyer’s case: Warrant arrest for ex-pub owner”. ''TODAY.'' January 29, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref>		In May 2006, David Rasif asked his long-time friend, Freddy Lim Soon Kiang to open a bank account in Vietnam. He then transferred US$620,000 (~S$985,180) from a client’s account to the bank in Ho Chi Minh. On 1 June 2006, Freddy Lim withdrew US$600,000 over two days.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref> Freddy Lim stayed at the Luxury Sofitel Plaza hotel in Ho Chi Minh where he would pass US$500,000 in cash to man named “Nick Leong”. Although David Rasif had asked Freddy to transfer the remaining money back to Singapore, Freddy closed the account and kept US$88,650 for himself.<ref>K.C Vijayan. “Rasif list $108K in bed to move money”. ''The Straits TImes. April 2, 2007.'' Accessed 2 December 2019. Retrieved from NewspaperSG.</ref><ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> David Rasif's former clients, George and Kaori Zage filed a multi-million lawsuit against Freddy Lim. In June 2007, he represented himself in court and pleaded for the charges to be dropped.<ref>Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. ''The Straits Times.'' June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.</ref> Freddy Lim then disappeared and has been at large since November 2007. According to ''TODAY'', he sold his pub, Actors' Bar and also owed money to multiple parties. He sent a letter to the new owners of Actors’ Bar saying “here, there, everything (sic) asking me for money… Too much pressure (sic) that I had to run away from it all. Sorry!”.<ref>Ng, Anlsey. “Rogue lawyer’s case: Warrant arrest for ex-pub owner”. ''TODAY.'' January 29, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG.</ref>

	==~~Scams & money laundering activities~~==		==== Shell company (British Virgin Islands) ====
			In December 2005, David Rasif registered a company called ''Ingenious Ideas International'' on the British Virgin Islands. He then opened a bank account in Hong Kong under that company’s name. On 1 June 2006, David Rasif wired $4.13 million (HK$20m) to the account. It is to be believed that ''Ingenious Ideas International'' was a shell company since no staff from the company showed up at the Hong Kong hearing.<ref>“American couple suing for $11m”. ''The New Paper.'' October 20, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref><ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>

	~~===Shell company on the British Virgin Islands===~~		==Property cashback scam (2004)==
	In December 2005, Rasif registered a company called ''“Ingenious Ideas International”'' on the British Virgin Islands. He then opened a bank account in Hong Kong under that company’s name. On 1 June 2006, Rasif wired over $4.13 million (HK$20m) to the account. It is to be believed that ''Ingenious Ideas International'' was a shell company since no staff from the company showed up at the Hong Kong hearing.<ref>“American couple suing for $11m”. ''The New Paper.'' October 20, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.</ref><ref>K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. ''The Straits Times.'' December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.</ref>

	===Property cashback scam (2004)===
	Rasif was investigated for a property cashback scam that started in 2004. A cashback scam is when a property agent overvalues the price of a property to both the buyers and sellers or their agent. A total of 22 people were charged for the following:		Rasif was investigated for a property cashback scam that started in 2004. A cashback scam is when a property agent overvalues the price of a property to both the buyers and sellers or their agent. A total of 22 people were charged for the following:
	{\| class="wikitable"		{\| class="wikitable"