How did the scammer use fake returns to lure more victims?

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The Scammer Used Promises of High Returns and Fake Reassurances to Entice Victims

The scammer, Sathish Nair Dhanabalan, lured victims into non-existent investment schemes by promising exceptionally high returns, such as a 100 per cent profit within a single month. To further solidify trust and encourage larger investments, Sathish would sometimes make initial payments to victims, presenting these as proof of the schemes' legitimacy. When the promised returns were due, he would fabricate stories and forge official-looking documents to explain delays, and in at least one instance, arranged for someone to impersonate Ho Ching, the chief executive of Temasek Holdings, to reassure a victim about the investment's authenticity.
Promises of Extraordinary Profits

Sathish presented victims with opportunities for investment schemes that promised an astonishing 100 per cent return on investment within a month. For example, he pitched a "Temasek Investment" currency exchange program to a neighbor, claiming that invested funds would double in value within that short timeframe. This aggressive promise of rapid and substantial financial gain was a primary enticement for individuals to part with their money.
Fabricated Reassurances and Impersonation

To build credibility and maintain the illusion of a legitimate operation, Sathish employed deceptive tactics. He made initial payments to some victims, using these to assure them of the schemes' genuineness and to persuade them to invest even more capital. In a particularly elaborate deception, he arranged for an individual to impersonate Ho Ching and call a victim, further validating the supposed legitimacy of the investment and reinforcing the victim's commitment.
Deception Regarding Delays and Forged Documents

When the maturity dates for the purported investments arrived, Sathish would not deliver the promised returns. Instead, he would invent narratives and create forged letters from various entities, including banks, government bodies, law firms, and audit firms, to justify the delays. These documents sometimes bore forged signatures of prominent figures, such as Ravi Menon, the managing director of the Monetary Authority of Singapore, and Heng Swee Keat, who served as Minister for Finance, adding a layer of false authority to his excuses.

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How did the scammer use fake returns to lure more victims?

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