S’poreans lured to Nanning ponzi scheme with dinners, condos

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SINGAPORE – When Alice (not her real name) arrived in Nanning, the capital of Guangxi Zhuang Autonomous Region, in March, she was impressed with the number of high-rise developments in the city. The apartment the Singaporean public servant stayed in was about 2,000 sqft, and for rent at $500 each month. Fellow Singaporeans there tried to convince her that she should live there – a sprawling development called Nanning Skyfame ASEAN Maker Town, where a full manicure service was S$8, Starbucks coffee was S$3 and a bowl of wanton noodles with 20 wantons cost S$2. Except that when Alice, in…

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