A visionary local entrepreneur has proven that the best networking event in Singapore isn’t a LinkedIn seminar, but a shared prison cell.

The convict successfully raised $89,000 from his former cellmate by pitching a luxury limousine business that existed solely in his imagination and some dodgy Telegram screenshots.

After securing the "investment," the business mogul skipped the fleet and went straight to the advanced financial strategy of losing everything on shitcoins and gambling the leftovers at a casino.

"Wah lau, I thought we are brothers for life leh," the victim sobbed.

"He say this business will make us big boss, but now only my bank account got lobang."

The CEO was rewarded with a 29-month staycation back in his primary networking hub.