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A woman was arrested after she was alleged to have misappropriated US$4.2 million (S$5.65 million) worth of United States Dollar Tether (USDT), which is a form of cryptocurrency.
The police said they received a report on Feb 28 last year that the sum of cryptocurrency belonging to a company was discovered to have been misappropriated by an employee between May and August 2022 into cryptocurrency accounts allegedly belonging to the woman.
Through follow-up investigations, officers from Bedok Police Division established the identity of the 31-year-old woman and arrested her for cheating and money-laundering.
Investigations revealed that she had used the money for various purchases. A pair of slippers, a pair of sunglasses, a bag and a Mercedes Benz car were seized as proceeds of crime.
She was to be charged on Feb 28, 2024, for the following offences: