Woman pleads guilty to unlicensed payment service operations

theindependent.sg

A 58-year-old Singaporean woman, Zin Nwe Nyunt, admitted in court on March 5 that she did not know where S$711 million came from in her company's bank accounts. She pleaded guilty to running an unlicensed payment service with her husband's friend. Nyunt's company, Unione, received large sums in 2020 and 2021, including over US$531 million. The operation was exposed after an Australian scam victim traced the funds to Singapore, prompting local investigations. Nyunt and her co-defendant, Nyan Win, failed to question the source of the funds and continued their operations despite suspicious transactions. They will be sentenced on April 1.


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