‘People came here dreaming of riches’: Inside the Nanning condo said to be part of a pyramid scheme
A Singaporean man recounts his experience being lured into a suspected pyramid scheme operating out of a luxury condominium in Nanning, China. The investigation highlights how recruiters target individuals with promises of wealth while operating under the guise of legitimate investment.
Why it matters
It exposes the mechanics of international financial scams and the risks associated with cross-border investment schemes.
Skyfame Byland is a sprawling 22-block condominium complex in Nanning, China. The tallest block is 64 storeys high.
Listen NANNING – The door was shut, the curtains were drawn and everyone was told to put their phones away.
Charles (not his real name), a Singaporean in his 30s, was taken to the high-rise apartment one morning in 2024 by a friend for a “briefing” on how he could get rich.
The four-bedroom unit was in Skyfame Byland, a sprawling 22-block waterfront condominium in Nanning, the capital of southern China’s Guangxi region. Some blocks rise as high as 64 storeys, making the estate a prominent feature of the city’s skyline .
“The first thing that struck me was how spacious it was, and how lucky the Singaporean who owned this unit must be. I was envious,” he told The Straits Times.
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