Singapore: An Indian national has been charged in a Singapore court for allegedly operating an unlicensed cross-border money transfer business involving more than SGD 38 million (USD 29 million), according to media reports.
The accused, identified as 45-year-old Raju Krishnamoorthi, was produced in court on Friday and charged with two offences linked to illegal remittance operations.
According to reports, he has been accused of conducting unlicensed money transfer services as a self-employed foreigner without a valid work pass between March 2024 and April 2025. He also faces charges of conspiring with a company director to facilitate a false declaration in a work pass application.
Authorities alleged the accused was involved in large-scale unauthorised remittance transactions in Singapore.
His alleged accomplice, a 33-year-old Indian national who was also scheduled to be charged, failed to appear in court, prompting authorities to issue an arrest warrant. The matter is expected to come up for review in June.
The case surfaced after a joint operation by Singapore Police and the Ministry of Manpower, following a tip-off that led to a raid in Norris Road in the Little India area.
During the operation, officials reportedly seized over SGD 314,000 in cash, 30 ATM cards, a hard disk, two mobile phones and several books containing remittance transaction records.
Raju’s case is scheduled to be mentioned again in court in May as investigations continue.
