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55-year-old man arrested after allegedly cheating six of about $200k in online investment scams

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55-year-old man arrested for allegedly cheating six of about $200k in online investment scams

SINGAPORE - A 55-year-old man has been arrested for allegedly convincing a woman to transfer more than $74,000 in a scam involving an online investment platform.

The man then instructed her to transfer more than $74,000 to a specified bank account on Aug 5 and 6. Under the Corruption, Drug Trafficking and Other Serious Crimes Act, a person convicted of money laundering can be jailed up to 10 years or fined up to $500,000, or both.

 

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