Jail for S'porean involved in $32m luxury goods scam with his Thai wife

Couple lived a high life funded by customer payments while their companies were operating at a loss

- Nadine Chua

Pi Jiapeng (left) was arrested in August 2022 after he fled Singapore with his wife, Pansuk Siriwipa (right), the mastermind, during investigations.

(ST FILE PHOTO)

A Singaporean who schemed with his Thai wife to collect money from customers for luxury goods without delivering the products was sentenced to jail for five years and 10 months.

On Oct 14, Pi Jiapeng, 30, pleaded guilty to three charges, including money laundering and fraudulent trading.

Pi's sentencing comes more than three years after his arrest in August 2022. He fled Singapore with his wife, Thai national Pansuk Siriwipa, during police investigations.

Pansuk was sentenced to 14 years' jail in October 2024 for being the mastermind behind the scheme.

Pi and Pansuk made headlines in 2022 as the couple involved in a $32 million luxury goods scam.

Between May and August that year, 187 police reports were filed as orders to the couple for luxury goods were not fulfilled even though full payments had been made.

Deputy Public Prosecutor David Koh said that in May 2021, Pi and Pansuk started Tradenation, a business selling luxury watches in Singapore.

The couple in January 2022 set up another firm, Tradeluxury, which sold luxury bags.

Pi was listed as a director in both companies, which sold their goods on a pre-order basis.