Investors cry foul over tree investments gone wrong

Firm that sold them aquilaria tree scheme has folded

Lorna Tan Invest Editor/Senior Correspondent  About 70 investors, including Singaporeans and foreigners working here, are crying foul over a scheme that effectively promised that their money could grow on trees.

In 2013, the investors poured sums ranging from $5,000 to $60,000 into a scheme to grow aquilaria trees – a prized tree that is harvested for valuable agarwood or oud oil, used in perfumes and spas. read more