A 43-year-old man was arrested on 21 October for allegedly cheating his 69-year-old friend of at least S$186,000 after offering to help recover money lost in a cryptocurrency scam.
Allegedly Sought Payments for Legal & Witness Protection Fees
The older man had told his friend about the cryptocurrency losses, AsiaOne reported, citing a police release issued on 22 October.
The younger man allegedly sought payments over 15 months for purported legal, witness protection and administrative fees. He also allegedly requested more money by claiming the matter could be heard in overseas courts.
The victim lodged a police report on 27 September. Officers from Clementi Police Division subsequently identified and arrested the suspect.
Police Announced Plans to Charge Him
Police said the man would be charged with cheating on 23 October. If convicted, he could face up to 10 years’ jail and a fine.
They urged caution when someone offers to recover scam losses in return for fees. People should verify requests for upfront payments, particularly those described as legal, administrative or processing charges.
Anyone who suspects they have been scammed should immediately contact their bank to report and block fraudulent transactions, and lodge a police report.
