Three Chinese nationals arrested for suspected fake gold ingot scam

SINGAPORE - Three men have been arrested for their suspected involvement in a fake gold ingot scam.

The men, all Chinese nationals aged between 37 and 44, will be charged in court for attempted cheating on Thursday.

Speaking at a press conference on Wednesday, Central Police Division commander Daniel Tan said the police received a report by a 60-year-old businessman on Tuesday afternoon, saying that two men claimed to have found gold ingots while excavating the ground at an unknown site.

In an attempt to deceive the businessman, the two men produced a document in old Chinese writings resembling an old will, and a piece of gold ingot to allow the businessman to check with a goldsmith shop.

After negotiating a price of $180,000, the two suspects left the businessman to consider the offer. Unsure if the deal was too good to be true, he called the police.

A team of officers who conducted extensive enquiries into the case arrested the two suspects four hours later on Tuesday evening. Police officers also arrested another accomplice. In total, the police seized more than 200 pieces of small gold-coloured ingots, a piece of paper with Chinese writings and six gold-coloured mini Buddha statues.

If convicted of attempted cheating, the men face up to 10 years in jail, and a fine.