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Man To Be Charged With Assisting Another To Retain Benefits From Criminal Conduct

The Police have arrested a 55-year-old man for his suspected involvement in a case of investment scam.

On 14 August 2020, the Police received a report from a victim who was introduced by a man she befriended online to register an account with an online investment platform. As instructed by the man, the victim made bank transfers amounting to more than S$74,000 on 5 and 6 August 2020 to a specified bank account. After the transfers were made, she discovered that her account was blocked and she was unable to access the online investment platform or recover the funds she had transferred. The man became uncontactable thereafter.

Through investigations, officers from Bedok Police Division established the identity of the 55-year-old man, who is the alleged owner of the specified bank account, and arrested him on 14 September 2020.

The man had also allegedly provided two of his other bank accounts to assist in money laundering where he retained benefits from criminal conduct on behalf of another individual. These three bank accounts were used to receive more than $700,000.

The man will be charged in court on 22 February 2021 with assisting another to retain benefits from criminal conduct. This offence, punishable under Section 44(5)(a) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act, carries a jail term of up to 10 years, a fine of up to S$500,000, or both.

The Police take a serious view against any person who may be involved in scams and frauds, and perpetrators will be dealt with in accordance with the law. To avoid being an accomplice to crimes, members of the public should always reject requests by others to use your bank account or mobile lines as you will be held accountable if these accounts are linked to illegal transactions.

For more information on scams, members of the public can visit scamalert.sg or call the Anti-Scam Hotline at 1800-722-6688. Anyone with information on such scams may call the Police hotline at 1800-255 0000 or submit information online at www.police.gov.sg/iwitness.

 


PUBLIC AFFAIRS DEPARTMENT
SINGAPORE POLICE FORCE
21 February 2021 @ 4:00 PM
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