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SINGAPORE \u2013 A man accused of conducting an unlicensed business that provided money transfer services involving about <\/span><\/a>\u00a31.4 million (S$2.4 million) <\/span><\/a>has walked free.\u00a0<\/p>\n The total amount included at least \u00a375,050 in scam proceeds.<\/p>\n A district court granted Sean Koh Chao Lun, 34, a discharge amounting to an acquittal on June 25. Those given such a discharge cannot be charged again with the same offence.<\/p>\n Without revealing details, the Attorney-General\u2019s Chambers\u00a0told The Straits Times\u00a0on July 7: \u201cAfter careful consideration of the facts and circumstances of the matter, the prosecution applied for (the discharge) in relation to the charge against Koh.\u201d<\/p>\n Koh, a Singaporean, was charged in December 2025.<\/p>\n At the time of the purported offence, he was the sole director of a local company called Day Brand, which has since been struck off by the Accounting and Corporate Regulatory Authority (ACRA).<\/p>\n Police said in an earlier statement that based on preliminary investigations, Koh had opened an account with money transfer firm Wise Asia Pacific to conduct \u201coverseas remittance\u201d through Day Brand.<\/p>\n He was purportedly engaged in the buying and selling of cryptocurrencies, primarily USDT.<\/p>\n Police added that he also allegedly advertised his services on cryptocurrency platforms such as Binance.<\/p>\n Interested buyers then transferred fiat currency \u2013 money declared legal tender by a government \u2013 to the Wise account of Koh\u2019s company.<\/p>\n Between May 10 and June 17, 2022, its Wise account allegedly received around \u00a31.4 million from overseas Wise accounts.<\/p>\n A police spokesperson had said: \u201c(Koh) would then transfer these funds to his personal bank account, before transferring them to other local bank accounts as payments for the purchase of USDT from other cryptocurrency sellers.\u201d<\/p>\n Koh purportedly did not attempt to establish the source of the funds. At least \u00a375,050 was later established to be crime proceeds transferred by two victims of an impersonation scam in Germany.<\/p>\n Court documents and the police did not disclose details about that case.<\/p>\n<\/div>\n SINGAPORE \u2013 A man accused of conducting an unlicensed business that provided money transfer services involving about \u00a31.4 million (S$2.4 million) has walked free.\u00a0 The…<\/p>\n","protected":false},"author":1,"featured_media":59841,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-67089","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/67089","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=67089"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/67089\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/59841"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=67089"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=67089"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=67089"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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