Woman charged for cheating 'investors' of more than S$2m

Woman charged for cheating 'investors' of more than S$2m

File picture of Singapore currency. (Photo: AFP/Roslan Rahman)

SINGAPORE: A 53-year-old woman who allegedly cheated four people of more than S$2 million was on Friday (Nov 10) charged with 84 counts of cheating.

Leong Lai Yee was first charged with one count of cheating on Nov 4. She allegedly deceived a woman into believing that if she invested her money through Leong, the money would be used to finance the purchase of distressed properties in Singapore.

Court documents showed that the woman transferred S$28,000 to a UOB account.

Leong’s other three victims were also allegedly promised the same type of investment and were said to have been cheated of various amounts ranging from S$3,900 to S$166,000 between January 2014 and April 2015.

She now faces 85 charges and Deputy Public Prosecutor Kenneth Chin told the court on Friday that the number of charges are likely to increase.

Leong is in remand and her case will be heard again on Nov 17. 

If convicted of cheating, she can be jailed for up to 10 years and fined for each charge. 

Source: CNA/ad