Singaporean man charged in Philippines with cheating casino and investors of millions
Published on May 26, 2015 5:08 PM
By Samantha Boh
SINGAPORE - A Singaporean man has been charged in the Philippines, after he allegedly cheated a casino of $8 million.
Mr Dominic Sim, 37, had apparently used a fake receipt to exchange $8 million worth of gambling chips at Solaire Resort and Casino in the Philippines in February last year.
He also allegedly cheated at least 16 investors from Thailand of $620,000. A representative for the investors filed a police report last week in Singapore.
A representative for Solaire Resort and Casino said that when Mr Sim was confronted, he gave various excuses and did not return the money for months, which pushed the casino to make a police report, reported Chinese evening newspaper Shin Min Daily News on Tuesday. The casino later retrieved remaining chips worth $3 million from Mr Sim.
Mr Sim, who ran a Singapore-based investment company called Bullion Investment Group, a junket operator, was eventually arrested on April 21. He asked for bail to return to Singapore a week later, but was denied. He was charged on May 14.
"He said he wanted to return to Singapore to get the money but we did not believe him and hence asked that he is not granted bail," said the representative.
