Indonesian businessman questioned in Singapore over alleged use of fake S$10,000 notes at RWS casino

Yosia said his client visited a bank but was told he had to open an account to change the note to smaller denominations, but he could not do this.

During a visit to Resorts World Sentosa, Yosia was introduced to a VIP host who suggested he change the note at the casino. The note was then allegedly verified and exchanged for casino chips.

Anthony met up with Steven again on June 11, after the businessman returned to Jakarta, and handed him 33 S$10,000 notes to be changed to smaller denominations in Singapore.

He claimed the money was an inheritance from his parents.

According to Yosia, Anthony indicated that he wanted to buy Steven’s shophouse, which the businessman was offering to sell at 4.5 billion rupiah (S$323,500).

Anthony said he would pay him when the businessman returned to Jakarta with the Singapore currency in smaller denominations.

Yosia said his client then travelled to Singapore on June 12 and deposited 27 of the counterfeit S$10,000 notes into his account at the casino. Six other notes remained at his home in Indonesia.

South Tangerang police confirmed this account in a statement on July 3.

Yosia said that when Anthony asked for the S$10,000 notes in small denominations, Steven told him they should travel to Singapore together to collect the money.

The lawyer added: “Anthony declined, saying he didn’t have a passport and that he had business to attend to in Indonesia.”

On June 22, Steven used six of the counterfeit S$10,000 notes kept in Jakarta as payment towards a house in Pamulang, Banteng province, which the businessman bought in May 2025.

But the seller’s daughter had difficulty changing the notes with a money changer in Jakarta.

On June 26, Steven flew to Singapore with his wife, their children and the seller’s daughter, with the intention of paying for the house.

Steven told the seller that the S$10,000 notes could be changed to small denominations only in Singapore at the casino.

When the seller’s daughter realised she could not bring into Indonesia more than S$6,000, she told Steven to pay by bank transfer instead.

“That afternoon, after Steven took part in a baccarat tournament at (RWS), he was stopped by casino security and police,” said Yosia.

Steven was told that the serial numbers on some of the six notes matched some of the 28 notes he had exchanged on his two earlier trips.

Yosia said Steven was questioned at Police Cantonment Complex, where his client was told he was being investigated for bringing in a large sum of cash without declaring it, circulating counterfeit currency and using counterfeit currency.

The lawyer said Steven surrendered his passport and mobile phone, and was told he would have to remain in Singapore for between three and six months for police to complete their investigations.

The lawyer added: “Steven is a victim of fraud and is not part of a counterfeit money ring. We have reported to the South Tangerang police about this case.”

Discontinued note

The S$10,000 banknote was first issued in 1973 and discontinued in 2014. In 2021, the Monetary Authority of Singapore (MAS) stopped issuing the S$1,000 note as well.

In a statement in 2020, MAS said the discontinuation of the S$1,000 and S$10,000 notes was a pre-emptive move to mitigate the money laundering and terrorism financing risks associated with large denomination notes.

It noted that discontinuing a high denomination note has also been the practice in other jurisdictions.

Over the years, a number of individuals have been hauled to court over the use of counterfeit S$10,000 and S$1,000 banknotes in Singapore.

In February, an Indonesian man who received a counterfeit S$10,000 from his girlfriend in Singapore was caught after he tried to deposit it in his unsuspecting uncle’s bank account.

Aurick Kenji Almira Valeryan, 22, was sentenced to seven months’ jail.

A year earlier, a 36-year-old Indonesian man was charged after he tried to deposit a counterfeit S$10,000 banknote at the DBS South Bridge branch at Hong Lim Complex.

Those convicted of using forged or counterfeit banknotes in Singapore may be jailed for up to 20 years. – The Straits Times/ANN