The investigation has concluded. On 26 August 2009, Lee Hock Chye, the sole proprietor of LePrime, was charged in the Subordinate Courts for 164 charges of cheating under Section 420 of the Penal Code and 1 charge of attempted cheating under Section 420 read with Section 511 of the Penal Code.

What is the progress of the proceedings in the Subordinate Courts?

Lee Hock Chye used LePrime to operate what is commonly known as a ponzi scheme. He used the monies from victims to pay the returns he had promised to other victims.  Lee Hock Chye also used part of the monies towards personal expenses.  Only 3 watches, a gold chain and a wallet were recovered from Lee Hock Chye by the CAD.

In accordance with the court order, these items will be sold by auction.  The CAD will inform the victims of this case on the procedure in making a claim for the proceeds of the auction.