SINGAPORE - A 39-year-old man was arrested on Wednesday for his suspected involvement in an investment scam where a victim lost almost $400,000.
The police said on Thursday that they received a report on Jan 30 about a victim who had paid a total of $400,000 on two occasions to the man. The victim was purportedly led to believe that the man would help her invest in low-risk local bank-issued bonds, but the man had allegedly used the money for speculative investment instead.Police investigations are ongoing. The offence of cheating carries a jail term of up to 10 years and a fine.or call the Anti-Scam Hotline on 1800-722-6688 for more information on scams.
Those who have any information on such scams may call the police hotline on 1800-255-0000 or submit information online at