Man arrested for allegedly cheating former colleagues into making fake investments

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Man arrested for allegedly cheating former colleagues into making fake investments
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SINGAPORE – A 37-year-old man was arrested on Monday for his suspected involvement in a series of investment scams that saw his former colleagues cheated of their money. Read more at straitstimes.com.

SINGAPORE – A 37-year-old man was arrested on Monday for his suspected involvement in a series of investment scams that saw his former colleagues cheated of their money.

The police said on Tuesday that the man’s victims would transfer money into his account using PayNow, believing they had been presented with a legitimate investment opportunity. The police said they had established the identity of the man following investigations into several reports of investment scams they received between Dec 5, 2022, and Feb 17.The offence of cheating carries a jail term of up to 10 years and a fine.

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