Man charged with money laundering linked to $150k in alleged scam proceeds
A man was charged with money laundering on Tuesday after he allegedly received $150,000 in cash, believed to be proceeds from a scam.
Filipino Mortel Virgilio Jr Marcial, 41, allegedly committed the offence on Sept 7.
Court documents stated that Marcial allegedly received the cash from one Choo Swee Lee at a Bayshore Road condominium, near Upper East Coast Road.
In a statement, police said officers had received a report that a victim was purportedly cheated by an unknown man whom she got to know via social media.
The victim withdrew large sums of cash on different dates, and on one occasion handed about $150,000 to a man.
Through extensive investigations, officers from the Central Police Division arrested Marcial on Sunday, within five hours of the report being made.
He is said to be involved in an arrangement with a man known only as Lucas.
Police did not disclose details about the scam.
A police spokesperson said that several items Marcial used to allegedly commit the crime were also seized as case exhibits.
“The police take a serious stance against any person involved in the laundering of proceeds of crime, and offenders will be dealt with firmly in accordance with the law,” said the spokesperson.
“To avoid being an accomplice to crimes, members of the public should reject requests from others to register companies, open bank accounts or receive money, as you may be held accountable if they are used for criminal activities.”
Marcial will be remanded at the Central Police Division. His case has been adjourned to next Tuesday.
For dealing with the benefits of criminal conduct, an offender can be jailed for up to 10 years and fined up to $500,000.