SINGAPORE — On hearing that the Monetary Authority of Singapore (MAS) would stop issuing S$1,000 bills, a money changer saw an opportunity to profit from what would become rare currency notes.
So, Ahamed Sahib Ziaudeen Abdul Rahman tried to secure more of such notes for himself, and even offered a Maybank employee at least S$2 in commission for each S$1,000 note that the bank employee could procure for him.
Deputy Public Prosecutor Andrew Chia told the court that Sahib’s offence took place on Dec 19 in 2020. In an effort to keep more S$1,000 notes in stock, he approached fellow money changers and offered them around S$2 in commission for each S$1,000 note that they were able to procure for him. He added that there was also some level of planning involved in his offence because he only went to Mr Poh because he knew he could not officially obtain S$1,000 notes from Maybank.
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