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Man in Singapore jailed, fined over proxy betting

October 16, 2023 Singapore Crime & LegaliGaming & Gambling

An individual who accepted approximately $20,000 in illegitimate bets was subject to a hefty fine and incarceration. Straits Times reports that Teo Thiam Tat, 66, received a three-month prison sentence following his guilty plea to one count of offering illegitimate remote wagering services. A $20,000 fine was imposed on him in addition for his involvement in the proxy wagering scheme.

Tat allegedly accepted financial wagers from bookmakers, as determined by an investigation. Moreover, he provided monetary incentives to bettors who had achieved victory in the past. Subsequently, a second participant in the proxy wagering operation transmitted via text message the wagers that certain gamblers had placed with Tat.

Tat’s total wagers amount to approximately $17,634.40. Investigation findings indicate that this sum was accumulated from August 22, 2020, to September 7, 2020. Approximately $881.72 was commission earned by Tat on the transaction due to the collection of wagering.

Tat met an individual identified as Jason while out for beverages with friends, according to Deputy Public Prosecutor Quek Lu Yi. Tat initiated his involvement in the illicit wagering industry in 2019 under the guise of Jason’s agent.

As per reports, Jason allegedly placed wagers on an illegitimate gambling website, where gamblers who communicated with Tat would collect the winnings. Tat was compensated with 5% of the aggregate wagers collected in exchange for his involvement in the proxy wagering fraud. A five percent additional commission was extended to him on victories.

Once this arrangement was reached, the two individuals engaged in proxy wagering on behalf of the gamblers. Tat received text messages on multiple mobile phones from fifteen distinct gamblers. Subsequent to accepting the wagers, he deleted the texts, thereby impeding the investigators’ ability to deduce the plot. Tat has already served his sentence, whereas the other participant in the programme would face a distinct trial.

In Singapore, around $2 billion was apprehended in the course of an extensive anti-money laundering operation. Despite commencing the operation in August, law enforcement persisted in their investigation of the case, which entailed extensive money laundering and illegal gambling. Approximately ten individuals believed to be associated with the crime have been apprehended thus far.

Related Article About: Singapore Illegal Gambling

Original story by: Gambling News

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