Singapore Man Robbed of Over $278,000 USD

The Singaporean police has just revealed a robbery case that involved Bitcoin. Malaysian Pang Joon Hau traveled to Singapore on April 8th to find some local Bitcoin sellers, but things didn’t work out as planned.

When he arrived he found a broker, who met Pang at his hotel, where they waited for the seller who had agreed to show up. When he finally arrived, he was accompanied by his own “broker”. When two of them had made sure that Pang was holding almost 300 000 usd worth of cash, they assaulted Pang and fled with the money.

Victim quickly filed a report, that allowed authorities to start working right away, which led to arrest couple of days later.

Mohd Abdul Rahman Mohamad, the Bitcoin “broker,” was arrested at a hotel in a smaller Singaporean district, Sentosa, and was charged with robbery by the police. Police suspects criminals also being involved in earlier robberies this year – local man was robbed of $150,000 Singaporean dollars worth of jewelry just few months ago.

It’s being believed that criminals had spent already over $60,000 on luxury items before being caught. Robbers will be sent to prison where they will be spend minimum of 5 years.

Syed Mokhtar Syed Yusope, his partner in crime, was arrested at a rail transit station with his 10,000 Singaporean dollar share of the stolen amount as he attempted to evade capture by police forces.