SINGAPORE – A woman was jailed after she tricked her godson into handing her more than $1 million for a fake investment scheme she claimed would bring in large dividends.

After cheating him and other victims of more than $1.3 million in total in investment schemes she made up, Low Mood Chay evaded the police for around 10 years until she was arrested in 2022 at the Institute of Mental Health (IMH) following a suicide attempt.

The 66-year-old was sentenced to seven years’ jail on Monday after she pleaded guilty to four counts of cheating. Another seven charges were taken into consideration during sentencing.

Deputy Public Prosecutor Tay Jia En said that in 2018, Low met a freelance tutor known as Russell, 34, at a tuition centre, where she worked as an administrator.

The two grew close and had a relationship akin to that of godmother and godson.

Low would tell Russell that she was affiliated with many rich and powerful people, including the owners of Hong Leong Bank.

In January 2020, Low told Russell that she had “special investments” at Hong Leong Bank due to the “special relationship” she had with its owners.

She said dividends were paid out every month for these investments, and asked if he wanted to make a lump sum investment.

Despite a lack of formal documentation to support her claims, Russell agreed to invest as he trusted his godmother.

He paid Low $30,000, expecting to get dividends of $405 to $1,215 monthly. Initially, Low’s investment scheme appeared to be legitimate as he did receive such dividends.

Low then encouraged Russell to invest more money, and he gave her more than $1 million between January 2020 and May 2021.

She also lied to him that she had earlier topped up his investment account with $100,000 so that he would give her $32,000 that she needed for a cancer treatment.

DPP Tay said investigations revealed that Low had transferred more than $290,000 in “dividend earnings” to Russell between February 2020 and June 2021, but was subsequently unable to transfer money when the police froze her bank account for investigations.

Low’s cheating activities go back to 2011, when she targeted a 55-year-old property agent at PropNex Realty known as Alice.

Low was employed as Alice’s personal assistant and part-time telemarketer, and Alice trusted her as a friend.

That year, Low told Alice about an investment scheme that guaranteed dividends of up to 18 per cent yearly.

Low said the investment scheme was administered by the “AFIG Investment Company” and that the company had an attractive membership programme which offered benefits, including giving members cars or houses for free.

She claimed that to join the programme, hopeful applicants had to invest large sums of money in the investment scheme.

Alice handed her more than $270,000 over several occasions in 2016 and 2017.

Low admitted that she used money from one victim to pay off promised dividends owed to another victim. She also splurged on jewellery and branded goods.

She evaded the police for about a decade by renting different places to live in and not living at her registered address.

In December 2021, Low attempted suicide by inhaling smoke from burnt charcoal and was admitted to IMH, where she was subsequently arrested in January 2022.

Those found guilty of cheating may be jailed for up to 10 years and are liable to be fined.