Preliminary investigations revealed that the man had instructed the woman to make the multiple transfers totalling about S$1mil to several overseas bank accounts. — The Straits Times/ANN
SINGAPORE: A woman made transfers totalling about S$1mil (RM3.26mil) to multiple overseas bank accounts after being told she could earn S$300mil (RM980.86mil).
The 65-year-old had been introduced to an overseas property investment scheme by a relative living overseas, the police said on Dec 22.
The scheme purportedly involved investments in real estate and computer assets.
After being introduced to the scheme by her relative, the victim was later contacted by a 58-year-old man who was allegedly in on the scam.
Preliminary investigations revealed that between June and November, the man had instructed the woman to make the multiple transfers totalling about S$1mil (RM3.26mil) to several overseas bank accounts.
But the woman did not receive her promised profits, and a police report was made on Nov 3 after the man asked for more investment funds.
The police established the identity of the man and arrested him on Wednesday for his suspected involvement in the scam.
They added that preliminary investigations revealed he is believed to be involved in other similar property investment scams.
He is expected to be charged on Friday with the offence of cheating.
In a statement, the police said they take a serious view of those involved in scams, and that perpetrators will be dealt with in accordance with the law.
Those convicted of cheating may be jailed for up to 10 years and fined. – The Straits Times (Singapore)/Asia News Network
