The Police have arrested a 58-year-old man for his suspected involvement in a case of overseas property investment scams.
On 3 November 2022, the Police received a report where a 65-year-old woman claimed that she was led to believe that she could earn profits amounting to about $300 million from an overseas property investment scheme. Preliminary investigations revealed that between June and November 2022, the woman was introduced to an investment scheme dealing in real estate and computer assets by a relative residing overseas, and was purportedly instructed by the man to make multiple transfers to several overseas bank accounts amounting to about $1 million. After the woman transferred the money, she did not receive the profits as promised after the man requested for more investment funds.
Through follow-up investigations, officers from Clementi Police Division established the identity of the man and arrested him on 21 December 2022. Preliminary investigations revealed that the man is believed to be involved in other similar property investment scams.
The man will be charged in court on 23 December 2022 for the offence of cheating under Section 420 of the Penal Code 1871. The offence of cheating carries an imprisonment term of up to 10 years and a fine.
The Police take a serious view of persons who may be involved in scams and frauds, and perpetrators will be dealt with in accordance with the law.
If you have information related to such crimes or if you are in doubt, please call the Police Hotline at 1800-255-0000, or submit it online at www.police.gov.sg/iwitness. For more information on scams, members of the public can visit www.scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688.
SINGAPORE POLICE FORCE
22 December 2022 @ 7:30 PM