Woman allegedly involved in $5.4M gold investment scam charged
SINGAPORE — A Vietnamese woman who allegedly perpetuated a gold investment scam which cheated victims of millions was charged in the State Courts on Friday (24 May).
Nguyen Thi Thu Lan, 49, was charged with one count of cheating a sum of $666,048, but she is believed to have been involved in at least five cases, totalling more than $5.4 million.
She is currently remanded and will return to court on 31 May.
Her charge sheet stated that, on 14 January, she deceived Abdul Rahim Jahir Hussain into believing that she had 12 kilograms of gold bars to sell to him at $666,048, tricking him into paying her the sum of money.
The Singapore Police Force said that it received several reports between January and February from other victims who were allegedly approached by Nguyen, who claimed to operate a gold brokerage company selling gold at discounted prices.
The victims were directed to make payments of between $261,000 and $3,546,000 for the supposed gold purchases. However, the purchase orders were not fulfilled after payment was made.
Police officers established Nguyen’s identity and arrested her on Wednesday.
Separately, a 24-year-old man, who has not been named, is assisting the police with investigations related to the case.
If convicted on cheating, Nguyen faces a jail term of up to 10 years, and a fine on each count.
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