SINGAPORE: A 69-year-old man will be charged in court on Friday over a cheating case involving S$1.5million."The victim was asked to make a payment of S$1.5 million to a loan broker to secure the loan and in return, would receive the loan in tranches," said the police in a news release on Thursday.
Investigations revealed that the suspect allegedly kept S$1.25 million and paid the remainder to the loan broker. The suspect became uncontactable after that and purportedly failed to deliver the loan, said the police. Police arrested the man on Wednesday, and seized electronic devices during the operation as case exhibits.He will be charged with cheating, an offence which carries an imprisonment term of up to 10 years and a fine.
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