Businessman Robert invested about $850,000 in Right Choice Capital (RCC) starting in 2018 after James Nicholas Kodrowski promised 16% annual returns on loans, according to court documents and investor claims [1, 2, 3]. Kodrowski, who was the Singapore-based director of RCC and represented Singapore in ice hockey at the 2025 SEA Games in Bangkok, led the company [1, 2, 3].
RCC originated as a small lending business in the Philippines and claimed to provide SME and consumer lending, remittance, payment, and wallet services. The company said it employed over 100 people and raised more than US$22 million from private investors [1, 2, 3].
Robert and about 19 other investors collectively put in $9 million with RCC under similar agreements guaranteeing returns. For several years, Robert received interest payments. However, when he tried to withdraw his principal in 2024, RCC did not honor repayment as agreed [1, 2, 3].
On September 4, 2025, the High Court ruled in Robert’s favor and ordered RCC to repay close to $800,000 plus interest. About a week later, Kodrowski was declared bankrupt and listed on the bankruptcy order list, blocking individual creditors from seizing assets or taking direct legal action to recover funds [1, 2, 3].
Lawyer Andy Yeo explained, "No individual creditor can continue legal action to enforce a judgment. No seizure of assets, no garnishment of bank accounts, no writ of seizure and sale. Only the official assignee or a private trustee can take control of all the debtor’s assets" [1].
Investors say they were defrauded by Kodrowski’s "false representations" and have not been repaid their $9 million. Police are investigating the matter, but Kodrowski remains uncontactable [1, 2, 3].
The case highlights challenges creditors face once bankruptcy proceedings begin. The next key development will be determined by the official assignee’s management of Kodrowski’s estate and any potential asset recovery efforts.
