An Indonesian businessman is currently under investigation in Singapore after allegedly using a total of 34 counterfeit SG$10,000 notes at the casino at Resorts World Sentosa, according to a report by local news outlet The Straits Times.
The man, referred to only as Steven, is being investigated by Singapore authorities for bringing in a large sum of cash without declaring it, circulating counterfeit currency and using counterfeit currency.
However, his lawyer insists Steven is a victim of fraud, claiming he was given the notes as payment for a shophouse he was selling in South Tangerang, near Jakarta.
As outlined by The Straits Times report, Steven was first offered one of the $10,000 notes in question by a man named Anthony who claimed it was old and wanted it exchanged. After failing to exchange it through a Singapore money changer or bank, Steven was introduced to a VIP host at RWS, where the note was allegedly verified and exchanged for casino chips.
IAG highlights that while Singapore’s $10,000 notes remain legal tender, they were officially discontinued in 2014 and banks instructed to stop circulating, which can make them difficult to use in many transactions.
After Steven returned to Indonesia, he was given another 33 of the notes by Anthony as payment for the shophouse – 27 of which he also deposited back at RWS. The remaining six he used as partial payment on a house, but when the seller had trouble exchanging them, Steven and the seller returned to Singapore where he intended to complete payment.
Instead, he was stopped by police and security while playing in a baccarat tournament at RWs that afternoon.
The Straits Times said it had confirmed a meeting between the South Tangerang police and representatives of the Singapore Police Force earlier this month (SPF), where the Singapore authorities confirmed their belief that the notes were “non-genuine.” Both sides are investigating.
Steven’s Jakarta-based lawyer, Yosia Ginting, is quoted as saying, “Steven is a victim of fraud and is not part of a counterfeit money ring. We have reported to the South Tangerang police about this case.”
Steven has, he added, surrendered his passport and mobile phone, having been told he will have to remain in Singapore for up to six months while investigations are ongoing.
If convicted, he could face up to 20 years in prison.
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