Eight people were arrested by Singapore police for their suspected involvement in registering shell companies to procure corporate SIM cards for criminals.
The suspects, including seven men and one woman, aged between 22 to 56, were apprehended during an islandwide operation between September 18 and 26, according to a police statement on Saturday, September 27.
The operation was carried out by Anti-Scam Command officers and targeted shell companies that had been registering post-paid corporate SIM cards that are ultimately used for illegal purposes.
The preliminary police investigations revealed that these suspects were allegedly offered between $500 and $1,700 in exchange for registering between 90 and 480 SIM cards.
They were allegedly instructed to create the shell companies so that they could buy SIM cards in bulk and give them to criminal syndicates.
Syndicates would then use these SIM cards to help people communicate for illegal purposes, including vice and scams.
The suspects face a maximum sentence of three years in prison, a S$10,000 fine, or both if they are found guilty of giving criminal syndicates SIM cards that were fraudulently registered.
Since they had also established the shell companies, they could face up to a year in jail or a S$5,000 fine if it is determined that they did not exercise due diligence in carrying out their responsibilities as directors under the Companies Act.
[SRC] https://www.ibtimes.sg/8-people-arrested-using-shell-companies-secure-sim-cards-crime-rings-singapore-81803
