Creditors were told by the liquidator for the fintech firm on March 6, 2018 the company owes more than $143 million, and is now unable to meet its debts, according to a «Business Times,» (paywall) report. The man behind the business Patrick Teng did not show.
By implementing analytics and big data on foreign exchange trades Six Capital Investments pledged annual earnings as high as 18 percent to investors. However the firm ceased payouts around June 2017.
On its website Six Capital Investments says through its «proprietary ricebowl engine» it will bring health, wealth, education, and future jobs to communities.
A Singapore fintech firm that guaranteed investors eye watering returns is about to be wound up with substantial debts.