The police have classified the case involving Volks Auto - which has left more than 100 customers scrambling to reclaim down payments totalling more than S$3 million after it shuttered - as a case of cheating and are working to track down its owner Alvin Loo, who is said to have left the country early this month.
Mr K K Lo, an affected customer, said he was informed of this when he and more than 60 others gathered at the Bedok Police Divisional Headquarters on Tuesday (Dec 23) for a briefing on the case.
Speaking to reporters after the briefing, Mr Lo, who spoke on behalf of some of the affected customers, said the meeting, which lasted about an hour, was “friendly” and most of the victims present were “pretty calm”.
The 53-year-old IT manager added that the briefing was followed by a question-and-answer session in which the customers asked the police about the number of people involved in investigations, the whereabouts of Mr Loo and where their money was.
When contacted by TODAY, the police said: “The police confirm that the case has been classified as cheating. However, it is inappropriate to comment further as police investigations are ongoing.”
Mr Lo said he knows of 108 victims so far, who made down payments amounting to about S$3.6 million.
Most of the affected customers who attended the briefing felt more reassured afterwards, he said. “They are quite satisfied with the police report up to this stage.”
Moving forward, Mr Lo said at least 60 affected customers are looking into the possibility of buying cars from other dealers as a group. They will seek the guidance of vehicle associations such as the Automobile Importer and Exporter Association (Singapore) before proceeding, he said, noting that a group purchase would allow them to buy their vehicles at a discount.
“Hopefully, it will help minimise ... a little of the lost amount for the affected victims,” he added.