Man charged with cheating over loan scam involving $1.5m, Latest Singapore News


A 68-year-old man allegedly instructed a lady who wished to acquire a $15 million loan to pay $1.5 million with a purpose to obtain the loan.

But he’s mentioned to have pocketed $1.25 million of the fee and have become uncontactable, purportedly failing to ship the loan.

Wong Poh Kun was on Friday (Jan 7) charged with cheating involving $1.5 million.

A search on the Accounting and Corporate Regulatory Authority database reveals that  Wong, a Singaporean, was a director at companies together with inside design firm Genesis-Alliance Projects and real-estate growth agency Lakefront.

The database said his tackle to be in Sentosa Cove.

According to courtroom paperwork, on Feb 27 final 12 months, Ms Maureen Li was misled by Wong to consider she was making a fee of $1.5 million to a loan dealer to safe the $15 million loan, which might be delivered in elements.

Court paperwork didn’t point out Ms Li’s occupation or background.

Wong allegedly lied that the cash can be transferred to the checking account of Asia Alternative Fund, an funding firm.

The police mentioned in a press release on Thursday that of this sum, $1.25 million was allegedly stored by Wong and the rest was paid to a loan dealer.

On Wednesday, officers from the Central Police Division arrested Wong and seized some digital gadgets.

Wong is believed to be concerned in different scams, mentioned the police.

Speaking via video hyperlink whereas in remand, Wong questioned the cost as he mentioned he was within the midst of a settlement settlement and deliberate to make fee to the sufferer this month.

“I need time to facilitate this and to remand me (sic) would deprive me of the opportunity to settle it,” Wong mentioned in courtroom, including that he had a medical situation and wanted to go to the hospital.

He added: “I have been a respectable businessman for many years and completed multiple multi-million projects. Why would I cheat someone of a small sum of $1 million when I have made tens of millions in my career?”

District Judge Terence Tay mentioned this was not the correct discussion board to debate the cost and guaranteed him that he would have entry to medical assist if wanted whereas in remand.

Wong will return to courtroom subsequent week.

Comments are closed.