The Police have arrested a 52-year-old man for his suspected involvement in a series of investment scams.
On 25 September 2022, the Police received a report where a male victim was allegedly cheated by a 52-year-old man in an investment scheme involving construction equipment, in which the victim was led to believe that he could earn profits from it. The victim then passed cash amounting to $2,300 to the man. After the victim transferred the money, the accused became uncontactable and the victim purportedly did not receive the profits as promised. The victim then suspected that he had fallen victim to a scam and reported it to the Police.
Through follow-up investigations, officers from Clementi Police Division established the identity of the 52-year-old man and arrested him on 27 September 2022. Preliminary investigations revealed that the man is believed to be involved in five other similar cases of investment scams amounting to more than $40,000 lost island-wide.
The 52-year-old man will be charged in court on 28 September 2022 with the offence of cheating under the Penal Code 1871. The offence 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.
Source: Singapore Police Force