Tee Wei Jie was sentenced to 22 months in jail after cheating victims with fake investment schemes and false promises of luxury goods.
SINGAPORE – A 32-year-old man, Tee Wei Jie, was sentenced to 22 months in jail on November 14, 2024, after pleading guilty to five counts of cheating, which led to the loss of more than $140,000 from his victims. Between 2020 and 2023, Tee employed various fraudulent methods to deceive at least seven people, offering non-existent luxury goods and investment schemes in exchange for significant sums of money. Despite making some restitution, Tee was held accountable for his actions, which caused substantial financial losses to his victims.
Tee’s criminal activities began in October 2020 when he targeted a friend’s brother, who was looking to purchase a Rolex watch. Tee convinced the victim to pay $12,980 for the watch, promising to deliver it in six months. However, Tee had neither the means nor the intention to provide the watch. Instead, he used the money for personal expenses. The victim, realizing he had been swindled, filed a police report in March 2023, three years after the transaction, though the reasons for the delay in reporting were not disclosed in court documents.
The scam continued in January 2021 when Tee convinced another victim, the husband of a friend, to purchase a Rolex worth $19,900. The victim handed over the money, but Tee failed to deliver the watch, prompting the victim to file a police report in July 2022. Tee’s deceptive tactics extended to other high-value goods as well, as evidenced by his June 2021 scam involving a Chanel bag, which he failed to deliver after receiving nearly $8,000 from the victim. This led the woman to report the fraud in January 2023.
In another instance, Tee persuaded a former colleague in June 2023 to take part in an “investment scheme” that promised monthly returns of 5%. The victim, who was unaware that the scheme was a fabrication, handed over $9,200, which Tee claimed he would invest. Over the following months, Tee convinced the victim to invest more money, totaling over $89,000. However, Tee did not return the promised investment profits and gave excuses to avoid making payments. The victim filed a police report in 2023 after Tee failed to meet his obligations.
The final instance of fraud occurred in July 2023, when Tee tricked another former colleague into transferring $10,000 for a supposed investment opportunity. With these multiple cases in mind, the prosecution sought a sentence of 27 months, emphasizing the severity of the defendant’s actions. The defense, however, argued for a lighter sentence, citing Tee’s regret over his actions and his commitment to repaying the victims after his release. Tee’s bail was set at $45,000, and he is scheduled to begin his sentence on December 16, 2024.
Tee’s case underscores the risks of trusting promises of high returns and luxury goods without proper verification. His actions have left a trail of financial damage, and his sentencing serves as a reminder of the consequences of engaging in fraudulent schemes.
