SINGAPORE – Three men aged between 52 and 62, were arrested for allegedly conspiring to cheat women using fake gold ingots on June 20th, Thursday. According to the reports, a female victim was cheated of $4,000 after two men handed over “gold ingots” to her for safekeeping.
On June 19th around 1 pm, Preliminary investigations revealed that the woman was approached by two men in Tras Street, who claimed to have discovered gold ingots while they were digging the ground at an unknown site in Singapore.
Scammers Posed As Gold Traders
The men then claimed that they wanted to send the gold pieces back to China but were unsure of the necessary legal process. To secure the trust, they proposed leaving the gold ingots with the victim in exchange for cash as collateral.
The police added, that the men also showed her a document with “old Chinese writings” that resembled an old will, along with a small gold ingot.
The victim accompanied the two men to a goldsmith shop in Eu Tong Sen Street to verify the authenticity of the small gold ingot. It turned out to be real. Later, 3 accused exchanged the genuine gold ingot, with other “gold ingots”. They gave the fake to the woman and told her to pay $4,000.
Subsequently, the victim went to the same goldsmith shop to authenticate the other “gold ingots” and was told that those were fake. By then, the two men had already left the shop. Realizing that she had fallen for a scam, she informed the police.
Police Seized Fake Gold And Buddha Statues, And Many More
Officers from the Central Police Division identified the two men from PolCam and CCTV footage through ground inquiries and arrested them in Aliwal Street on June 20th.
The officers also arrested an accomplice after further investigations. Several items, including more than 80 mini gold-coloured ingots, a piece of paper with Chinese writings, and six gold-coloured mini Buddha statues, were seized from them.
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On June 22nd, the three accused men are expected to be charged with conspiracy to commit cheating. The offence carries a jail term of up to 10 years and a fine.
The police have advised the public to be wary of such scams and to take precautions such as purchasing exclusively from established, authorized, or reputable retailers. They should also be cautious with offers that appear overly advantageous and seek professional assistance to authenticate and assess the value of high-value items before completing any transactions.
