Business tycoon Peter Lim files police reports against alleged impersonators giving false advice on stock trading

SINGAPORE – Billionaire Peter Lim, 69, has filed two police reports of people impersonating him online in recent months, after encountering suspected scammers who used his image on financial chat groups to advise on stock trading.

It is not the first time that the prominent business magnate and investor, owner of Spanish La Liga club Valencia CF, has reported such scams to the police. In 2019, his photos were used in fake bitcoin advertisements claiming he endorsed the products.

For the latest cases, Mr. Lim’s spokesman said Monday (August 8) that police reports were filed on June 20 and August 2.

Both police reports were made against the same set of scams, the report filed in August after the scheme persisted after June.

Police confirmed that both reports were made.

Several screenshots of these finance-related chat groups seen by TODAY show someone using an image of Mr. Lim as a profile picture, giving financial advice and promoting stock trading courses in English and in Mandarin.

Members of the chat groups were promised to earn huge sums of money “by following (the) instructions”.

The chat groups were on multiple messaging platforms including Telegram, WhatsApp and iMessage.