Man to be charged over alleged involvement in investment scam

SINGAPORE – A 54-year-old man is slated to be charged on Oct 9 over his alleged involvement in an investment scam that offered loans to gamblers.

He is also believed to be involved in other cheating cases in which victims lost more than $2.2 million, police said in a statement on Oct 8.

Police said they had received a report at about 4.50pm on July 25, 2025 stating that the man had introduced a victim to an investment scheme. In this scheme, loans would be offered to gamblers in need of money.

She was assured of guaranteed returns regardless of the gambling outcomes, police said. The man then drafted an investment loan agreement and continued to solicit money from her.

The victim handed money over to the man, believing that the agreement was legitimate.

She realised that she had been scammed when she did not receive any returns and the man became uncontactable.

The police later identified the man and found his alleged involvement in other cheating cases involving a similar modus operandi.

The man is slated to be charged on Oct 9 with cheating. If found guilty, he may be jailed for up to 10 years, fined, or both.