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Two arrested over scam involving sale of fake gold bars on Carousell

Two arrested over scam involving sale of fake gold bars on Carousell

File photo of a 250g gold bar.

SINGAPORE: Two men, aged 29 and 32, were arrested on Tuesday (Jun 16) for their suspected involvement in a scam where fake gold bars were sold on Carousell. 

Police said that the victim made a report on Jun 13, saying he had been cheated by an online seller who offered to sell authentic gold bars at a discounted price. 

The victim met the 29-year-old man to collect four pieces of gold bars in exchange for S$5,440, said the police in a news release.

"The victim subsequently went to a pawnshop to check if the gold bars are authentic. However, he was told that the gold bars were likely to be fake," the police added.

READ: Two teenagers arrested over Hari Raya jewellery promotion scam on Carousell

READ: Woman jailed over fake 'DBS Bank' gold investment scheme

Preliminary investigations revealed that the 32-year-old man had "moved the criminal proceeds", said police, adding that both men are believed to be involved in several other online scams.

The 29-year-old suspect will be charged in court on Thursday for cheating. If found guilty, he could be jailed up to 10 years and fined.

Investigations against the 32-year-old suspect are ongoing.

Source: CNA/jt(gs)

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