During an island-wide operation from Apr 1 to Apr 5, the Commercial Affairs Department arrested the suspect and identified three other men, aged between 18 and 41, who are currently assisting investigations for their suspected involvement in the scams.
Preliminary investigations indicate that the bogus company was running Ponzi-like schemes using multi-level marketing strategies, police said. The four men are believed to have facilitated the schemes by advertising and recruiting potential job seekers as members, as well as providing bank accounts to facilitate the transfer of illicit funds. Further investigations are ongoing.
Those found guilty of by false representation of position not connected with contracts for goods and services under Section 424A of the Penal Code 1871 may be jailed for up to 20 years, fined, or both. The offence of aiding the commission of fraud carries a jail term of up to 10 years and a fine.
Police cautioned job seekers to be wary of online job advertisements that promise the convenience of working from home and being paid a high salary for relatively simple job responsibilities.
“Legitimate businesses will not require job seekers to make upfront payments to secure job offers and earn commissions. These acts are common ruses used by scammers to lure individuals into participating in their schemes or scams,” police said.
To avoid becoming involved in money laundering activities, members of the public should always reject requests to use…
