Man charged with attempting to rob teenager of S$32,000 over fake cryptocurrency deal

SINGAPORE: A 29-year-old man was charged on Thursday (Sep 5) with attempting to rob a 19-year-old of S$32,000 (US$24,500) over a fake cryptocurrency deal.
The police were alerted at about 7.55pm on Aug 29 to a robbery along Hougang Street 51.
Preliminary investigations revealed that the teenager had received an offer on Telegram from the 29-year-old man, Benedict Yee Hong Fai, to meet up to trade cryptocurrency for cash.
The deal amounted to about S$$32,000.
It was later found that this transaction was purportedly a sham and Yee had allegedly arranged for two other men to assault the teen with the intention to take his money, said the police.
“While the teenager was waiting, he was confronted by the two men and was assaulted by one of them,” said the police.
The victim managed to get away with his money. He later shared his account of the incident on Instagram.
The police established the identities of the three men and arrested them between Aug 30 and Sep 3. 
Yee was charged on Thursday with attempted robbery with hurt. 
If convicted, he could be jailed for between five and 20 years. The offence also carries at least 12 strokes of the cane. 
The two other men are assisting with police investigations.