On Thursday (27 Jan), a 36 year old man would be charged in court for his alleged role in receiving $1.6 million from victims of scams and then transferring it to a scammer.
The $1.6 million which he had received was transferred to him from the victims via a total of 150 transactions from September to November 2020 and they were proceeds from an investment scam.
The money received from the scams were transferred to three accounts one of it being a local account which belonged to the 36 year old man and the other two virtual accounts.
The man was also alleged to have received a sum of money for helping to facilitate the transfers to someone who is known as ‘Kenny’.
Apart from the $1.6 million which he transferred, he was also alleged to have made more third party transfers locally via third party accounts.
He withdrew cash amounting to $237,000 and passed it to someone who he did not know on 30 Sep 2020.
Charges against him
He would be charged in court for his involvement in aiding proceeds to be passed to another gained from a criminal conduct of another person.
He can be jailed up to 10 years and/or fined up to $500,000 if found guilty.
Police said that they take a stern approach of people using the financial system to ‘wash’ illegal monetary gains.
They warned the public not to let third parties use their bank accounts to avoid being an accomplice of such crimes which they would also be held liable should they be found out to be linked to these crimes.
Image source: Google Maps