SINGAPORE, Oct 9 — A Singaporean man accused of luring investors into a scheme promising guaranteed returns from loans to gamblers was charged today in connection with cheating cases involving more than S$2.2 million (RM7 million) in reported losses.
Ong Kah Keong, 54, faces three cheating charges involving amounts ranging from S$30,000 to nearly S$1.8 million, according to The Straits Times.
He allegedly deceived three people into investing in the scheme between December 2024 and October 2025.
The case came to light after a woman reported to police in July 2025 that a man had introduced her to an investment opportunity involving loans to gamblers who needed money.
She was allegedly assured that her investment would generate guaranteed returns, regardless of whether the gamblers won or lost.
