Two fraudsters sentenced for conspiracy to defraud

A 45-year-old woman and a 38-year-old man engaged in fraudulent activities were sentenced to four years and two and a half years of imprisonment respectively at the District Court today (March 23).

The court heard that the 38-year-old male defendant set up a local trading company, which reportedly manufacturing environmental friendly food products, in August 2004 and never had any genuine business. With the assistance of the 45-year-old female defendant, the company enticed about 450 victims to join the fraudulent high-yield cash-planting scheme. The victims would further be rewarded additional bonus when they introduced new members to join the scheme. The total loss suffered by the victims was about $4 million.

A victim reported the case to the Police in November 2004. The defendants were subsequently arrested by officers of the Commercial Crime Bureau in April 2005 and were later charged with conspiracy to defraud.

Both defendants were earlier convicted in the District Court and the sentences were handed down today.


Police Report No. 2

Issued by PPRB

END/Friday, March 23, 2007