Two criminals thought they’d pulled off the perfect currency switch and were ready to flee the country. But they didn’t reckon on the Police...
By: Ryan Yeo Kee Hng
On 6 April 2023, Georgian nationals Akhalaia Irakli and Malishava Joni devised a plan to steal from a Singaporean money changer. Travelling to Singapore, they carried a combination of counterfeit and authentic US dollars notes, along with counterfeit Euros.
Their plan was to pretend to purchase US dollars using another currency, ask the money changer to hand over the US dollars for inspection, secretly swap the genuine US dollars with counterfeit US dollars, and then leave with the genuine currency.
Counterfeit Caper
On 18 April 2023, Irakli and Joni approached a money changer at Peninsula Shopping Centre, choosing one who was willing to let them inspect the US dollars before payment and could handle large amounts of money.
Between 18 and 21 April 2023, the two suspects engaged in legitimate currency exchanges, swapping Singapore dollars for US dollars on four separate occasions. Having established rapport with the money changer, they requested the exchange of Singapore dollars for US$75,000.
On 21 April 2023, at approximately 4:30pm, Irakli and Joni arrived at the money changer and requested the handover of the US$75,000 under the pretext of verifying the amount. After verifying bundles of US$100 bills totalling US$75,000, they placed the bundles into plastic bags, then transferred these into a large briefcase they’d brought with them.
Feigning difficulty fitting this briefcase through the gap to return it to the money changer, the two men removed the plastic bags from the briefcase and transferred them to a smaller black leather bag, which could easily pass through the gap.
Subsequently, Irakli and Joni stated their intention to return with their passports and Singapore dollars, leaving the black leather bag behind with the unsuspecting money changer.
The two men failed to return within an hour, prompting the money changer to grow suspicious. Upon inspecting the black leather bag that they’d left behind with him, he discovered three plastic bags containing bundles of US$1 and US$100 notes, alongside counterfeit Euro notes. A switch had been made. He immediately called the Police.
On the Money Trail
Time was of the essence. Through extensive ground enquiries and with the aid of images from Police Cameras and other CCTVs, officers from the Singapore Police Force’s Central Police Division, Police Operations Command Centre and Police Intelligence Department established the identities of Irakli and Joni.
Further checks revealed that the two men had boarded an aircraft due to take off from Changi Airport for Frankfurt, Germany. Officers from the Airport Police Division responded swiftly by ordering a recall of the aircraft back to the boarding gate. Both men were escorted off the aircraft and placed under arrest.
Members of the public who are in the currency exchange and financial industries are advised to be vigilant against criminals who visit money changers, gain their trust and then attempt to swap genuine notes for counterfeit notes.
Crime Files
Police Life brings you actual investigations that Police officers have pursued to keep Singapore safe and secure. Watch a reenactment of this case on Crimewatch, Episode 1, 2024!
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