Man, 26, to be charged with misappropriating investors' S$270,000, making false police report he was robbed of sum

SINGAPORE — A 26-year-old man has been arrested for his suspected involvement in misappropriating S$270,000 and then lodging a false police report that he was robbed of the sum.

In a statement late on Tuesday (Oct 10) night, the police said that they had received a report on Aug 31 at about 3.10am from the man claiming that he was robbed of S$270,400 by two unknown assailants at Pasir Ris Park.

He had made the report “after he allegedly committed criminal breach of trust of the said money from investors”, the police added.

Another 26-year-old man who allegedly aided the first man in hiding the money was also arrested.

“Through follow-up investigations, officers from Bedok Police Division arrested the two men and recovered the S$270,400 cash on Aug 31, within nine hours after the alleged false report was lodged,” the police said.

“The police take a serious view of any person who engages in fraudulent or dishonest conducts. Offenders will be dealt with severely in accordance with the law.”

The first 26-year-old man will be charged on Wednesday with criminal breach of trust and making a false police report. 

Anyone convicted of criminal breach of trust can be jailed for up to seven years or fined, or both. If convicted of making a false police report, an offender may be jailed for up to two years or be given a fine, or both.

The second 26-year-old man will also be charged on Wednesday with abetting criminal breach of trust, which carries a similar penalty as criminal breach of trust.