Tan Yu Shu allegedly fabricated stories to deceive victims into transferring large sums of money.
SINGAPORE – Tan Yu Shu, 27, was charged on November 13 with multiple counts of cheating after allegedly deceiving six individuals into transferring a total of $25,700. The stories he spun ranged from credit card debt to trading losses and even a fabricated traffic accident.
Details of the Scheme
Court documents revealed that Tan used various fabricated narratives to manipulate his victims. In one case, in October 2023, he convinced a victim to transfer $3,500 by claiming he had suffered trading losses and needed a loan. He then deceived the same individual again in December 2023, falsely stating that he required funds to settle credit card bills.
In June 2024, Tan allegedly convinced another victim that he was involved in a traffic accident and needed $4,000 for expenses. He repeated the scam with this victim, claiming he needed money to cover mobile phone bills and rent, which led to the victim transferring a total of $1,500.
Other victims were also tricked, including one individual who transferred $1,000 after Tan claimed his POSB account was frozen.
Charges and Investigation
Tan faces 11 charges of cheating and one under the Moneylenders Act for allegedly aiding an unknown individual in carrying out an illegal moneylending business by providing his internet banking details.
The prosecution applied for a four-week adjournment to complete their investigations. Tan was granted bail of $20,000.
His case will be heard again on December 11. If convicted of cheating, he could face up to 10 years in prison and a fine.
