Only lend money you’re prepared to lose.
That’s the advice one of my classmates gave me when I was in primary school. It was a little strange that he gave that advice, considering he gave it after I lent him some money. A few days later, I realized he wasn’t going to pay me back and that when the bastard gave me that wise financial advice he was referring to himself.
But he had a good point. You really can’t trust anyone when it comes to money, even if it’s the valedictorian of your university.
Ex-NTU Valedictorian Allegedly Cheated $800K From Friends
A former Nanyang Technological University (NTU) valedictorian is under police investigation after she allegedly cheated around 70 friends and acquaintances of more than $800,000.
Ms Alexandra Low, a former financial analyst, is accused of borrowing money under various pretexts.
Low told one friend that she needed to borrow money because her family needed to make a payment but was unable to do so as her father had lent the money to someone.
The scammer told another friend that she needed money to make payments for a house that Low’s family had purchased for investment purposes.
Low also asked one friend for money saying her uncle needed help to pay compensation for a workplace accident.
She’s creative, I’ll give her that.
This is bad enough, of course, but then she went even further, saying she needed to borrow money because her mother had been hospitalised and that she needed help to pay her medical bills.
Realised they were scammed
Low’s victims only realised they were scammed when they started talking amongst themselves and discovered that she had been borrowing money from many of them.
According to The Straits Times, some friends confronted her about the loans while some friends accompanied her to a police station to “confess” last month.
The average loan amount was around $6,500 but one person lent $121,500, according to the police report.
But why? Why would someone scam friends and family of over $800,000? Maybe someone she knew really was in the hospital? Or maybe her family was in a dire financial situation? Or maybe-
Oh wait, no, it was boobs.
Allegedly used for breast enhancement
According to Mothership, Low told the police that she had borrowed around $800,000 to $900,000 from friends for breast enhancement treatments.
She also admitted to making a false report about being scammed in order to cover up her lies.
The former valedictorian added that the money was used for her treatment of breast enhancements at Tokyo Bust Express.
Low’s credit card statements show that thousands of dollars were frequently paid to the aesthetic company, reported Mothership.
So, all of this scamming and betrayal was just for boobs.
Top Student
What makes this all the more infuriating was that Low had used her reputation in school to gain the trust of her victims.
As previously mentioned, Low was valedictorian at NTU and was considered a “very esteemed member of NTU” by some.
Low reportedly told a friend that she did indeed use the money for beauty treatments, claiming it was “an addiction”.
Well, I’m addicted to Nutella but I don’t go around asking friends for thousands of dollars so I can purchase a lifetime supply of the chocolate spread.
“I’m deeply sorry to betray your trust in me and lying about the reason,” she said.
Low has paid back around $400,000 to various creditors through her father, reported The Straits Times.
She has since lost her job as a financial analyst after someone told her bosses about her alleged crime.
Advertisements
Several police reports have been filed against Low and investigations are ongoing.
It’s been many years since I received that advice from my primary school scammer, but it still rings true.
Only lend money you’re prepared to lose.
