Skip to main content

Advertisement

Advertisement

Man to be charged with money laundering offences linked to S$10.2 million Covid-19 scam

SINGAPORE — A 40-year-old man will be charged on Wednesday (Feb 24) with money laundering offences linked to a S$10.2 million Covid-19 scam.

In mid-March 2020, the police in Singapore were alerted to a case of an overseas pharmaceutical company being defrauded of 6.636 million euros for the purchase of surgical masks and hand sanitisers.

In mid-March 2020, the police in Singapore were alerted to a case of an overseas pharmaceutical company being defrauded of 6.636 million euros for the purchase of surgical masks and hand sanitisers.

Follow TODAY on WhatsApp

SINGAPORE — A 40-year-old man will be charged on Wednesday (Feb 24) with money laundering offences linked to a S$10.2 million Covid-19 scam.

In a news release on Tuesday, the police said that the Singaporean has allegedly committed offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.

In mid-March last year, the police were alerted to a case of an overseas pharmaceutical company being defrauded of 6.636 million euros (about S$10.2 million) for the purchase of surgical masks and hand sanitisers.

After the company transferred the money to a Singapore bank, the items were not delivered and the supplier allegedly could not be contacted.

Through investigations, officers from the Commercial Affairs Department (CAD) established the identity of the man who had received the money and arrested him on March 25.

Further investigations by CAD suggested that the man allegedly had reasonable grounds to believe that the money was criminal proceeds.

“The man had also purportedly used, transferred and removed part of the money from Singapore,” the police said.

If found guilty, he may be jailed for up to 10 years or fined up to S$500,000, or both.

“The police take a serious view of all those who take advantage of the current Covid-19 situation to perpetrate crimes. We will spare no efforts in taking all those who flout the laws to task,” they said.

Members of the public should visit scamalert.sg or call the Anti-Scam Hotline at 1800 722 6688 for more information on scams.

Anyone with information on such scams may also call the police hotline at 1800 255 0000 or submit information online at www.police.gov.sg/iwitness.

Related topics

scam money laundering court crime Covid-19

Read more of the latest in

Advertisement

Advertisement

Stay in the know. Anytime. Anywhere.

Subscribe to get daily news updates, insights and must reads delivered straight to your inbox.

By clicking subscribe, I agree for my personal data to be used to send me TODAY newsletters, promotional offers and for research and analysis.