Man accused of conning 77 victims of $1M via high-yield investment scam
SINGAPORE — A 54-year-old man who allegedly cheated 77 people of $1,033,650 was charged in court on Tuesday (18 June).
Chong Wee Yew is accused of duping the victims via a purported high-yield investment program between 2016 and 2017.
Besides being charged with cheating and criminal breach of trust, Chong was also charged with molesting a woman between 27 September and 1 October 2017.
Chong, who faces a total of 121 charges, was offered bail of $200,000. His case will be mentioned in court again on 9 July.
The maximum punishment for cheating is up to 10 years’ jail along with a fine.
If found guilty of criminal breach of trust, Chong faces up to seven years’ jail and a fine.
The maximum penalty for molestation is up to two years’ jail, plus caning and a fine.
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