Company director jailed for multiple offences; firms' bank accounts used to receive S$18 million in scam proceeds

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Singapore Police Force News

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The 34-year-old man incorporated companies used for money laundering for a promised S$20,000 reward from someone from a group named SG Black Market Hire on Telegram.

SINGAPORE: A man who relinquished his Singpass credentials and allowed corporate bank accounts to be set up under his name to facilitate scam proceeds was sentenced to jail on Wednesday for multiple offences that included drug use and possession of a dangerous weapon.

After getting to know an unidentified person from a Telegram group called SG Black Market Hire, Zahir set up both companies for a promised reward of S$20,000. "Although Zahir was the director of both companies and the authorised signatory of the companies’ corporate bank accounts, he failed to exercise reasonable diligence in the discharge of his duties as a director of both companies," the police added.Man laundered about S$450,000 in scam proceeds through Singapore to China, gets jail

The police said they take a serious view of scams - a major crime concern - and related money laundering activities.

 

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