65YO Charged for Trying to Deposit Fake $10,000 Notes into DBS Bank Account

Mr Young Tat Ong, 65, pleaded guilty to engaging in a conspiracy to use three pieces of fake $10,000 notes as real money.

The 65-year-old man committed a crime not once, not twice, but seven times in total. It includes similar cheating and forgery offences.

This time, he agreed to help a Vietnamese man who claimed to be a high-ranking official to exchange Singapore’s $10,000 notes for smaller notes. In return, he gets a commission.

Here’s what happened.

65YO Charged for Trying to Deposit Fake $10,000 Notes into DBS Bank Account

Mr Young got to meet his accomplice, Mr Dinh Dai Quang, through an online acquaintance.

It seems that meeting people online is beyond just looking for romantic partners, but also partners-in-crime, although it’s unknown if they met through Tinder.

Earlier on 21 March 2022, the two met up at Changi Airport and Mr Dinh handed him two pieces of $10,000 notes.

Mr Young noticed that the notes appeared dull but still brought them back home.

He claimed that the colour presentation of the pictures of the notes that Dinh had sent to him via Whatsapp appeared dull and dissimilar from genuine $10,000 notes he had previously encountered.

He seems to be rather knowledgeable and experienced, huh?

Mr Young then got Mr Dinh to sign an agreement letter stating that Mr Dinh must be responsible and assume legal liability as the rightful owner of the notes.

Partners-in-crime indeed.

How Were They Caught Red-Handed?

On 22 March 2022, they went to a DBS Bank outlet to deposit three counterfeit $10,000 notes and a genuine $1,000 note.

The bank teller noticed that something was off as the texture of the $10,000 notes felt different from the genuine ones.

She immediately got her superiors to inspect them.

The branch manager spotted four differences in these fake notes from real ones. This includes the texture, security thread lines, watermark images, and serial numbers.

The pair was arrested at the scene after the manager called the police.

Penalties for Depositing Counterfeit Notes

An offender can be jailed for up to 20 years and fined for engaging in a conspiracy to use counterfeit money as real money.

Mr Dinh’s case is pending before the courts.

Since Mr Young is a repeat offender, the judge called for a report to access if he will be detained for between seven and 20 years.

To know more about the Singapore notes, watch this to the end:

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