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On 6 January 2026, SIMCW Tech Pte Ltd (“SIMCW Tech”) and SIMCW Tech’s sole director, Sim Chee Wei (“Sim”), were sentenced for offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act 1992 (“CDSA”) and the Companies Act 1967 (“CA”). 

SIMCW Tech was sentenced to a fine of $32,000 for one count of an offence under Section 55(1) punishable under Section 55(2)(b) of the CDSA. One count of the same offence under the CDSA was taken into consideration for the purpose of sentencing. 

Sim was sentenced to eight months and one week’s imprisonment for the following offences:

1. One count of an offence under Section 55(1) read with Section 80(1)(b) and punishable under Section 55(2)(a) of the CDSA; and
   
   
2. One count of an offence under Section 157(1) punishable under Section 157(3)(b) of the CA.

One count of each offence under the CDSA and CA, respectively, were taken into consideration for the purpose of sentencing.

Investigations by the Commercial Affairs Department revealed that Sim had incorporated SIMCW Tech and another company, SCWEI Tradings Pte Ltd, in August 2022 as part of a purported business arrangement with an unidentified Chinese investor. Sim was the sole director of both companies. Subsequently, Sim opened corporate bank accounts for both companies, and relinquished control of these accounts to the purported Chinese investor. 

On 29 August 2022, the Police received information that criminal proceeds amounting to USD 210,102.74 arising from an investment scam overseas had been transferred into SIMCW Tech’s bank account in Singapore. SIMCW Tech was unable to provide a satisfactory explanation for the abovementioned sum of money.

The aforementioned charges against SIMCW Tech are attributable to Sim’s neglect as the sole director of SIMCW Tech. Investigations also showed that Sim had failed to exercise any supervision over the affairs of both companies and was unaware of the transactions in their respective bank accounts.  

Under the CDSA, the offence of possessing property reasonably suspected to be benefits of criminal conduct carries an imprisonment term not exceeding three years or a fine not exceeding S$150,000, or both, if the person is an individual. In the case of a corporate entity, offenders can be given a fine not exceeding S$300,000 for each charge.

Under the CA, the offence of failing to use reasonable diligence in the discharge of duties as a director carries a punishment of an imprisonment term of up to 12 months or a fine of up to S$5,000.

The Police take a serious stance against any person involved in the laundering of proceeds of crime. These criminal acts compromise the integrity of Singapore’s financial system. To ensure that Singapore remains a safe and trusted place for business and finance, the Police will take tough enforcement action against such perpetrators, who will be dealt with in accordance with the law.