SINGAPORE – A man accused of conducting an unlicenced business that provided money transfer services involving about £1.4 million (S$2.4 million) has walked free. 

The total amount included at least £75,050 in scam proceeds.

A district court granted Sean Koh Chao Lun, 34, a discharge amounting to an acquittal on June 25.

Those given such a discharge cannot be charged again with the same offence.

Without revealing details, the Attorney-General’s Chambers told The Straits Times on July 7: “After careful consideration of the facts and circumstances of the matter, the prosecution applied for (the discharge) in relation to the charge against Koh."

The Singaporean was charged in December 2025.

At the time of the purported offence, he was the sole director of a local company called Day Brand, which has since been struck off.

Police said in an earlier statement that based on preliminary investigations, Koh had opened an account with money transfer firm Wise Asia Pacific to conduct “overseas remittance” through Day Brand.

He was purportedly engaged in the buying and selling of cryptocurrencies, primarily USDT.

Police added that he also allegedly advertised his services on cryptocurrency platforms such as Binance.

Interested buyers then transferred fiat currency – money declared legal tend...