October 20, 2021

Teen pleads guilty to selling bank accounts later used to receive over $200k in ill-gotten gains, Courts & Crime News & Top Stories

SINGAPORE – A teenager was just 16 years old when he committed serious crimes including selling his bank accounts that were later used to receive proceeds of investment scams totalling more than $200,000.

Separately, he also acted on behalf of loan sharks multiple times to harass debtors.

The Singaporean, who is now 17, pleaded guilty on Monday (Oct 4) to seven charges for offences including defacing the doors of debtors’ homes with paint and allowing others to use his bank accounts for criminal activities.

He cannot be named as his identity is protected under the Children and Young Persons Act.

The police had previously said they received multiple reports about an investment scam related to several bank accounts between May and August last year.

The victims had made “investments” on online trading platforms after befriending unknown persons online.

After they deposited money into specific bank accounts for the investments,…

Read full article here: www.straitstimes.com