The Police have arrested a 35-year-old man for his suspected involvement in a series of investment scams.
On 21 June 2023, the Police received a report from a victim who was purportedly led to believe that he could earn profits from an investment scheme offered by the man. Investigations revealed that the man had misrepresented himself and had offered false lucrative investment returns to lure the victim in transferring monies. After the victim transferred money amounting to S$1,500/-, the man became uncontactable.
Through follow up investigations, officers from Woodlands Police Division established the identity of the man and arrested him on 22 August 2023. Preliminary investigations revealed that the man is believed to be involved in nine other similar cases of investment scams with total losses amounting to more than $1 million.
The man will be charged in court on 24 August 2023 with the offence of cheating under Section 420 of the Penal Code 1871. The offence carries an imprisonment term of up to 10 years and a fine.
SINGAPORE POLICE FORCE
23 August 2023 @ 9:25 PM