Investment scam cheat charged in court, man believed to have reaped S$600k from victims

SINGAPORE — A 29-year-old man believed to be involved in a series of investment scams involving more than S$600,000 was charged in court on Wednesday (March 7).

Alvin Ker was charged with two counts of cheating, and moving money derived from his alleged criminal conduct out of Singapore. TODAY understands that Ker is unemployed.

Court documents showed that he had allegedly cheated his victim, Carine Lee, of S$1,000 on Dec 21 last year. He had reportedly lied to her that she was making an investment where she would receive profits double of the capital invested, with the capital amount guaranteed.

He also allegedly moved S$15,000 of his criminal proceeds from Singapore on Feb 27.

The police said in a press release on Tuesday that they had received several reports from Ker's victims from between Feb 27 and March 4. These victims had responded to his online advertisement, which claimed that they would be able to double their investment within three months.

After the victims paid Ker through bank transfers, he become uncontactable.

Ker was arrested by the police on Monday. Preliminary investigations revealed that Ker is believed to be involved in more than 40 similar cases.

He will be remanded for one week, with the provision that he can be taken out for investigations, and will next appear in court on March 14. He may face additional charges.

If convicted of cheating, Ker may be jailed up to 10 years and fined. Those convicted of moving money out of Singapore under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act could be fined up to S$500,000 and/or jailed up to 10 years.