Singapore  - A Singapore court on Wednesday sentenced a fraudster who cheated 13.4 million Singapore dollars (10.3 million US dollars) out of investors in a Ponzi-style scam to 14 years in jail, a media report said.

Lee Hock Chye, also known as Jon, 30, pretended to offer a wide range of investment schemes through his company LePrime, which was registered in 2006.

Lee told clients that he traded their money at stock exchanges in New York, Hong Kong and Tokyo, the online edition of Straits Times newspaper reported.

Instead, Lee used the investors' money to repay some of his existing clients and to finance his luxurious lifestyle.

The scam came to light after two years, when one of the 91 cheated investors made a report to the police, according to the newspaper.

Lee handed himself in to the authorities and pleaded guilty. (dpa)