KUALA LUMPUR: Two foreign nationals have been charged with cheating after allegedly working together to deceive three individuals into transferring nearly $263,000 for fake investment opportunities, Singaporean authorities reportedly said on Nov 15.
The two suspects, Wang Rui, 33, a Chinese national, and Sau Young Seng, 37, a Malaysian who holds Singapore permanent residency, face three charges each related to the conspiracy.
The pair who were picked up by the Singaporean police in a two-day anti-scam operation carried out on Nov 13 and 14, were accused of using fraudulent tactics to cheat their victims on three separate occasions between June and August this year.
Based on a report on The Straits Times, in the first instance sometime between june and July, the duo convinced one victim of an online job opportunity, posted via WhatsApp, that it was legitimate. As a result, the victim reportedly transferred over $28,000 to bank accounts belonging to seven other individuals.
In a similar scheme between June and August, Sau and Wang were said to have duped another victim, but this time into believing in a bogus investment opportunity.
The victim allegedly sent nearly $232,000 to five different bank accounts in total.
Additionally, the two also face a charge for cheating a third victim out of $2,600 between July and August 2024. The victim was misled into thinking they were investing in a genuine opportunity and subsequently transferred the funds to an online trading platform, tradekey.icu.
Details regarding the specific reasons behind these financial transactions have not been disclosed in court documents.
ST reported that under Singapore law, those convicted of cheating can face up to 10 years in prison and a fine for each charge.
The case has been adjourned to Dec 12.
In the article, it was reported that Wang and Sau are believed to be linked to a larger syndicate involved in one-time password (OTP) activation services.
"The police further revealed that Wang and Sau allegedly created and sold WhatsApp accounts using both local and foreign SIM cards to facilitate scam activities. These accounts were reportedly supplied to overseas-based criminal groups, which then used them to target Singapore residents in investment scams.
"As part of the operation, law enforcement seized over 6,800 SIM cards, 15 mobile phones, and two laptops. They also recovered more than $10,000 in cash," the report said.