According to the media release, a compaany which offers cryptocurrency investment schemes is under the investigation of the Commercial Affairs Department (CAD).
Here is what the police said:
The CAD is currently investigating into the business activities of A&A Blockchain Technology Innovation Pte Ltd (“A&A Blockchain”) for possible cheating offences.
A&A Blockchain purportedly offered a cryptocurrency mining investment scheme, promising a fixed daily return of 0.5%. This is in addition to other purported schemes, each offering varying returns.
Arrest
Four men, aged between 39 and 59, have been arrested for their suspected involvement in cheating offences in connection with this investigation.
The offence of cheating carries an imprisonment term that may extend to ten years and a fine. Police investigations are ongoing.
Police urge those who have invested to make police report
Anyone who has invested with A&A Blockchain is advised to lodge a police report. You are encouraged to lodge your report online via https://eservices.police.gov.sg/content/policehubhome/homepage/police-report.html. To assist us in our review of your police report, you should state clearly:
- the name and contact details of the representative of A&A Blockchain you dealt with;
- the date and amount of your investment, as well as any withdrawals; and
- the mode of payment of your investment.
You should also attach/upload a copy of the documents made to and received for the investment (i.e. marketing materials, proof of payment, receipts, correspondence).
Alternatively, you may bring a copy of the above-mentioned documents with you to lodge a police report at the nearest Neighbourhood Police Centre or any Neighbourhood Police Post.