The police have arrested a 29-year-old man for his suspected involvement in a series of investment scams involving more than $600,000.
Between 27 February 2018 and 4 March 2018, the police received several reports from victims who had responded to the suspect’s online advertisement claiming that they were able to double their investment within three months. After payments were made by the victims via bank transfers, the suspect would become uncontactable.
Through follow-up investigations, officers from Bedok Police Division established the identity of the suspect and arrested him on 5 March 2018. Preliminary investigations revealed that the suspect is believed to be involved in more than forty similar cases.
The suspect will be charged in Court on 7 March 2018 with the offence of Cheating under Section 420 of the Penal Code, Chapter 224. If convicted, he will be punished with imprisonment for a term which may extend to 10 years, and shall also be liable to a fine.
If you wish to provide any information related to such crimes, please call the Police hotline at 1800-255-0000, or submit it online at www.police.gov.sg/iwitness. If you require urgent Police assistance, please dial ‘999’.
To seek scam-related advice, you may call the anti-scam helpline at 1800-722-6688 or go to www.scamalert.sg. Help spread the word and share this advisory with your family and friends to prevent them from being the next victim of scam.
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