Reformative training for SG youth who cheated friends of more than S$330,000

He told his friends that he had made money trading in Bitcoin, a cryptocurrency, and even guaranteed them fixed returns if they invested through him. In reality, he planned to buy items in online games such as Counter-Strike: Global Offensive and sell them for a profit. — Image by kjpargeter on Freepik

SINGAPORE: A youth cheated seven of his friends of more than S$330,000 in an investment scam, claiming that he would help them invest in the foreign exchange and cryptocurrency markets.

He started cheating his victims when he was just 16 years old and spent their money on things such as online game items instead of investing it.