Jail for ‘second-in-command’ of illegal operation of cross-border crypto transactions
SINGAPORE – From their premises in Geylang, a team operated an illegal business buying and selling large amounts of foreign currency and cryptocurrency.
Between Feb 1 and 23, 2023, the team provided cross-border money-transfer services involving Singapore and foreign currencies of at least $35 million in value over no less than 430 transactions.
Following a police raid on the premises on Feb 23, 2023, the mastermind behind the operation, Singaporean Low Han Chuan, 44, fled the country.
On June 26, Javiour Chia Kit Hou, 34, whom the prosecution described as being the second-in-command, was sentenced to 10 months’ jail.
He had pleaded guilty earlier to one charge of abetment of the provision of an unlicensed payment service.
Deputy public…
