Man allegedly linked to investment scheme involving gamblers charged; over $2.2m losses caused

In an earlier statement, the police said that in July 2025, officers received a report stating that a Singaporean man had introduced a woman to an investment scheme in which loans would be extended to gamblers who needed money.

She was also assured of guaranteed returns regardless of the gambling outcomes.

Ong allegedly drafted an “investment loan agreement” and continued soliciting funds from her.

The woman was purportedly deceived into believing the legitimacy of the scheme, and handed an undisclosed sum of money to him.

She realised she had been scammed when no returns materialised, and Ong allegedly became uncontactable.

A police spokesperson said preliminary investigations revealed he is believed to be involved in other cheating cases involving a similar modus operandi, where losses exceeded $2.2 million.

For each count of cheating, an offender can be jailed for up to 10 years, fined, or both.