SINGAPORE – Three men have been charged in court for their alleged roles in laundering the proceeds of a government official impersonation scam involving gold bars and cash totaling nearly $800,000.
On June 6, Ryan Ng Zee Hao, 24, Young Raven, 28, and Randolph Koh Yong Lee, 30, were formally charged with assisting in the retention of criminal benefits, a serious offence under Singapore law.
According to police investigations, between May 29 and June 3, Ng and Koh allegedly received from Young:
- 27 gold bars, each weighing 100 grams, valued at about $300,000
- Additional gold pieces worth around $500,000
- And approximately $21,000 in cash
These assets were reportedly collected from scam victims, including a 68-year-old man who was duped by a caller claiming to be from the Monetary Authority of Singapore. The victim was misled into believing he was implicated in an offence and coerced into handing over his gold bars for “investigation purposes.”
Young is believed to have collected the gold on behalf of the scammers, allegedly aided by Ng and a 29-year-old woman. After the victim filed a police report on June 3, authorities arrested Young, Ng, and the woman the following day.
Subsequent police operations led to the arrests of Koh and another 29-year-old man at Woodlands Checkpoint, as they attempted to leave the country. Police seized $22,000 in cash and six mobile phones during the arrests.
Investigations into the involvement of the woman and the second 29-year-old man are ongoing.
If convicted, the accused face up to 10 years in prison, a fine of up to $500,000, or both for assisting another person in retaining benefits from criminal conduct.
