Buyer Loses $278,000 in Bitcoin Robbery
OpinionBit News Today2 min read
36-year-old Mohd Abdul Rahman Mohamad and his accomplice Syed Mokhtar Syed Yusope posed as sellers to entice victims with a tantalizing offer — bitcoin in exchange for cold, hard cash. The victim was in Singapore, Malaysian Pang Joon Hau, who, according to police reports, met them through a broker.
Botched Bitcoin Deal Becomes Violent Robbery
Claiming to be a part-time broker, Abdul Rahman and Mokhtar met Mr Pang and his broker on the night of April 8 at a Hotel 81 room along Middle Road. Abdul Rahman was already on the run after missing an April 5 court appearance, and police also suspected him of a break-in along Chuan Walk in Lorong Chuan. He got away with cash and valuables from a landed property. A DNA match linked the two crimes, but police are not saying much more.
Having learned about Abdul Rahman through his broker by word of mouth, Mr Pang had journeyed to Singapore to purchase bitcoin with cash. Once the meeting began and Rahman was shown the bills, he and Mokhtar revealed their true intentions. Both assailants then proceeded to punch Pang in the face and absconded with the 365,000 dollars in cash.
While S$14,000 of the cash was ultimately recovered, the onus remains on police to trace the origins of Mr. Pang's money.
After this robbery, Rahman went truly overboard on an indulgent luxury spree. Splurging on luxury hotel stays, he checked in to an Orchard Road hotel and purchased lavish gifts, including a Rolex watch retailing in at 45,800 dollars, Armani Exchange apparel, and a bevy of assorted jewellery.
According to the police, Abdul Rahman, 36, split some of his loot with his accomplice Mokhtar, 36, chipping in ten grand. Police arrested Mokhtar at Woodlands Checkpoint on Monday and apprehended Abdul Rahman on Tuesday night at a luxury hotel on Sentosa.
Mokhtar was charged with robbery with hurt on Wednesday, while Abdul Rahman was charged with the offence on Thursday, April 12. Rahman received an additional charge of breaking into a house and taking its valuables in the middle of the night.
To make matters worse, 33-year-old Yogeshwry Raman, Rahman's ex-wife, faced criminal charges for dishonestly receiving stolen goods, for having allegedly accepted 50,300 dollars worth of stolen property.
The punishments for these crimes align with high consequences, jail of up to 20 years, housebreaking penalties of up to 14 years. Dishonestly receiving stolen goods carries a potential penalty of up to five years' imprisonment, a fine, or both.
