SINGAPORE (May 7): Kelvin Tan, chief investment officer of investment firm GTR Ventures, scrambled to call a few of his portfolio companies early this week. On April 30, it emerged that crowdfunding platform Capital Springboard had sold $6.9 million in fake invoices. Tan, who has put more than $1 million in four local peer-to-peer (P2P) lenders, wanted to know if they faced similar risks. “I asked if they did non-notified [invoices or loans] and some said they did not, while others said only in exceptional cases,” he says with relief.

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