Month: August 2023

Legal proceedings were initiated on Thursday against four foreign individuals accused of colluding in a conspiracy to defraud within a cryptocurrency mining investment scheme. These individuals also face charges for operating an unlicensed payment services business. The defendants are associated with the local company A&A Blockchain Technology Innovation, which had been under investigation in 2022 due to suspicions of fraudulent activities. At the time of the alleged offenses, Yang Bin, a 60-year-old Dutch national, held the position of chairman at A&A Blockchain. Lu Huangbin, 59, served as the company's CEO, Wang Xinghong, 40, as the chief technology officer, and Chen Wei, 42, as a director. Lu, Wang, and Chen are citizens of China. Each of the accused is confronted with ...

Singaporean law enforcement officials have detained ten foreign individuals under suspicion of engaging in activities such as forgery and money laundering. The arrests came as part of a comprehensive operation across the nation, resulting in the confiscation of approximately S$1 billion ($735 million) in cash and assets. In an official statement released on Wednesday, the Singapore Police Force disclosed that eight additional individuals are currently sought by authorities. The operation, which took place on Tuesday, involved the coordinated efforts of over 400 officers who conducted simultaneous raids at various locations. Among the seized items were two gold bars, over S$23 million ($17 million) in cash, more than 250 luxury bags and timepieces, in excess of 270 jewelry pieces, ove...