Four Men to Face Charges in Singapore Over S$6M Mortgage Fraud Scheme

Four men in Singapore are due to face charges over an alleged scheme to obtain more than S$6 million (US$4.68 million) in mortgage loans using a homeowner’s property as collateral without his knowledge.

According to the Singapore Police Force, the men allegedly worked with a fifth accomplice to secure loans from two credit companies using forged documents. The case came to light on April 3 this year, when the property owner discovered that a caveat had been lodged against his home in connection with a loan application he had not authorized.

Investigators allege that a 39-year-old man impersonated the homeowner and used forged identity documents to facilitate the applications. A 27-year-old suspect allegedly lured the owner away from his home twice under false pretenses, while a 29-year-old man arranged access to the property so valuers could inspect it in the owner's absence. A fourth suspect, aged 36, allegedly helped arrange the production of a forged identity card.

Police arrested the four men during an operation on April 14 and 15, seizing a forged identity document and mobile phones. Police are still trying to locate the fifth suspected accomplice.

The suspects face different charges depending on their alleged roles. The 39-year-old faces six charges, including abetment of cheating, possession of a forged identity card, and using forged electronic records as genuine. The other three face charges related to cheating or the unlawful issue of an identity card.

The offenses carry potential prison sentences of up to 10 years. The men are due in court on November 10.