Woman jailed for conspiracy to defraud

A 29-year-old woman was sentenced to two years and eight months' imprisonment after being convicted of conspiracy to defraud in connection with a Loco-London Silver fraud case at District Court today (August 17).

The court heard that Police received complaints against three companies suspected to have perpetrated Loco-London Silver fraud between August 1998 and February 2000.

Officers of Commercial Crime Bureau took up the case for investigation. Enquiries revealed that the companies placed job advertisements locally for recruiting clerical staff and lured 51 jobseekers into fictitious Loco-London Silver investment involving a loss of $13.5 million.

Officers later arrested and charged 15 persons with conspiracy to defraud. They were sentenced to imprisonment ranging from eight months to 32 months in District Court in January 2007. In April 2007, officers further arrested the 29-year-old defendant. She was charged and the sentence was handed down upon conviction today.

Police remind members of the public to beware of jobs offered at unrealistically high remuneration or claims of quick profits. Job seekers should also stay alert if they are encouraged by their employers to invest with their own money for the purpose of securing the job offered.


Police Report No. 6
Issued by PPRB

Ends/Friday, August 7, 2007