4 men in Singapore face charges in alleged S$6 million home-loan fraud
What's new: Police said the group allegedly used forged IDs, impersonation and covert home valuations after luring the owner away.
Four men in Singapore are set to be charged over an alleged scheme to secure more than S$6 million in home loans by using a victim’s residential property as collateral without his knowledge. Police said the plot involved impersonating the owner, forging identity documents and arranging for valuers to enter the home while the owner had been lured away under false pretenses. The case surfaced on April 3, when the owner found that a caveat had been lodged against his property for a loan application he did not authorize. Officers from Bedok Police Division arrested the suspects, ages 27 to 39, on April 14 and 15 and seized a forged identity document and phones. Police said one more alleged accomplice is still being sought.