Ex-Cortina Watch Staffer Admits $500K Ponzi Scam, Cheated 14 Customers

• Soh Jian Kun, former Cortina Watch employee, admitted cheating customers of nearly $500,000.
• He exploited an internal staff purchase scheme for luxury watches in a Ponzi-style setup.
• The scheme involved forging receipts and falsifying documents to deceive 14 victims.
• Soh used new victims' deposits to service personal credit card debts and repay earlier victims.
• Pleaded guilty to 4 charges; sentencing in February; prosecution seeks 58-67 months jail.

Why It Matters: Former Cortina Watch employee Soh Jian Kun admitted to a $500K Ponzi scam, exploiting a staff scheme.