Singapore Expats

I thought not to share my sad story where I was cheated by Director of company. But its really embraced
Please allow me to share:
I had a good family relation with the owner (family) of Company A and company A opened its branch in another place and that branch start making loss.
Since I had good relation with whole family. So I thought that I should join in them and earn but it did not go through in that way.
Since I was very close to Company A family hence they asked me to invest 80K in his company So I transferred money from my account in good faith. Later since they planned how to eat this money and take some more from him .
They had one more company which is live but not functional since more than one year and they said they will give this company to me and I can do business at the place where they had another outlet at different place.
So we opened account of that company B and they asked me to put the initially deposit of 50K in that company account. Till now neither I am shareholder of the company B nor director of company. Before they started the transfer company A asset and inventory stock to Company B at different location they endorsed me as one of the director with no shareholder. They promise that they will handover the company B by giving same price as Company A got from vendors. But when I saw they price was far above the market price without any original bills. So there is no way company B can make profit and also did not stop here. They keep asking to put more money in company bank account without giving clarification of money that I pump in in company A and company B account. I asked why such high price.
Later said if you want we only transfer like this. and I did not sign any invoice or cheque of company. So I had no choice I have to quit from Directorship which was only 20 day time frame.The shareholder of company B signed all cheques and taken all inventory stock from Company A as Company A also belongs to them. So in this way company A sold business to company B come out of this.
Now noth company are separate but owners are same.
When I ask return my money which I pump in to company A and Company B accounts they say company is in loss we can not return your money.

Kindly assist me what to do in this situation.

You don't say where any of these companies were located, and, this sounds exactly like a typical Chinese company scam. And you have made several mistakes. I've seen experienced Singapore businessman get thoroughly screwed in this scam. They were certain they knew enough to keep it from happening to them.

A company wanting to do business in China needs to partner up with a Chinese company entity. Funds are taken from the Singaporean company and funneled into the Chinese company in order to actually conduct business. But once the funds are transferred to the Chinese company, the money is drained through a series of fraudulent transactions and as you have discovered, there is no way to get the money back.

Is this what happened to you? Sounds like it. You are asked to put money into a company of which you know nothing about. You don't know who controls it. You don't have sufficient proof that you actually put the money into the company. You have made a mistake, an expensive one.

You have been screwed by Company A, your friends, in on the scam from the beginning. IF I were to ever invest money in a company, I would either have a note payable or stock proving my investment. But I would NEVER invest in a company whose intent was to turn funds over to a Chinese company in order to do business in China.

Good luck in trying to use the courts to get you money back. I just don't see it happening. Sorry for your loss.

Thank you very much for the reply. Really appreciated.
Yes ,due to family friends I did not ask any black and white papers from them. Was very big mistake.
I only have bank transaction transfer receipts to Company A and company B accounts. Not sure that is enough proof or not.
When I asked the detail of money they just pretend and first started to say management asking more money to put in. However I decided not to put more money. I know they are now using my mony. I am sure its more than enough that I pumped in to run small outlet.

YES, It happened in SINGAPORE only and Company A is situated in Simlim Square,Singapore. I know them very well as they are close family friends. The owner of company is not Chinese.
If Needed I can mentioned name too of all persons of that family.
As I mentioned Company A tried to open one outlet to another location but not successful and continuously making loss at that location so later they decided to convert into Company B which is also in Singapore and belongs to same owner of company A. Both companies are still functioning.
But my money is drained out from the company B. and they do not talk about my Money now. I was Just added Director with no capital share of the company after my name added to bank account of company. After opened the company bank account and and this happened within one month. Later I found out and quit. First they counted stock and never came back to me and the stock which was counted and given by company A to company B, was taken back by Company A as both belongs to them. when I asked where is stock inventory list and price. They said first put more money because now we need for applying for EP under this company when I denied to put money before they asking that management asking money in bank account but I said I want to know the detail of the money which I pumped in Company A and Company B accounts.
Later they sent invoices from Company software above market price with no original receipts. To be fair to company B I said I will not sign any cheque without original receipts if you really transfer company A outlet to B. Later the Director who is shareholder in both companies signed the cheques and transfer everything on paper but in fact company B has nothing.

Owner of both companies is still the same people but I was screwed up. This is happened very recent but do not know what to do now?

My close friend family CHEATED me itself in Singapore. Thought it is very clear and safe to do Business in Singapore and any cheating will not be spared in Singapore.
I am really sad so at least to share here and I might get kind soul which can assist me as both companies are here and functional currently.

Please help me out and show correct way.

I'm just casually passing by and saw this topic, ie no expert at all.
But what's the reason you haven't already gone to the police? Is it because the others 'are'/were your friends, and you want to understand the situation before you decide upon action, or what... ?

- And no, do not mention names! Just my 2c, but that won't help you at all here...