On 5 June 2025, Koh Wee Hong (“Koh”) and Krowny Global Pte Ltd (“the Company”) were charged in court for their suspected involvement in money laundering offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (“CDSA”). Koh, who is the director of the Company, was also charged for failing to exercise reasonable diligence in the discharge of his duties as director of the Company under the Companies Act 1967 (“Companies Act”).
Investigations by the Commercial Affairs Department revealed that the Company was incorporated by Koh on 2 June 2022. Subsequently, on 20 July 2022, the Company’s bank account was allegedly used to receive USD 850,000 from a foreign company that was defrauded pursuant to a business email compromise (BEC) scam perpetuated by unknown persons overseas. The funds were subsequently transferred to bank accounts in other countries and Singapore. Koh allegedly failed to supervise the affairs of the Company, which led to it receiving criminal proceeds in its bank account.
Koh and the Company have been charged in court for the offence of entering into arrangements that facilitate another person's retention or control of benefits from criminal conduct under Section 51(1)(a) of the CDSA.
Any individuals convicted of entering into arrangements that facilitate another person's retention or control of benefits from criminal conduct, knowing or having reasonable grounds to believe in such facilitation, may be liable to a fine not exceeding $500,000 or to imprisonment for a term not exceeding ten years, or to both under Section 51(5)(a) of the CDSA. Any company convicted of possessing property that may be reasonably suspected of being benefits of criminal conduct may be liable to a fine not exceeding $1 million, or twice the value of the benefits from criminal conduct in respect of which the offence was committed, whichever is higher under Section 51(5)(b) of the CDSA.
The offence of failing to use reasonable diligence in the discharge of duties as a director under Section 157(3)(b) of the Companies Act 1967 carries an imprisonment term of up to 12 months or a fine of up to $5,000. Under Section 154(2)(b) read with Section 154(4)(a) of the Companies Act 1967, offenders may also be disqualified from acting as a director for up to five years.
Members of the public are advised not to use their personal or company bank account(s) to receive funds from unknown sources. Individuals should also not be a director of a company when they have limited or no oversight or control, as the company may be used for illegal purposes such as the laundering of criminal proceeds. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use their bank accounts.
SINGAPORE POLICE FORCE
04 July 2025 @ 3:45 PM