GemBet recruits Singaporeans to set up shell companies and disguise illegal gambling payments
Curacao-based gambling site GemBet recruits Singaporeans to create shell companies and fake invoices to disguise illegal gambling payments.Summary
GemBet, a Curacao-based gambling website operated by a syndicate with links to groups in Cyprus, is recruiting individuals in Singapore to set up shell companies and issue fake invoices to disguise illegal gambling transactions. Singapore Pools is the only licensed gambling operator in the country, making all other operators illegal. One invoice seen by The Straits Times showed an $80 payment to a company registered by a 19-year-old student at a residential Punggol address, claiming payment for pre-owned gaming equipment, though corporate records show it is a wholesale trading business. GemBet previously made headlines during the July FIFA World Cup when bets and payouts were funnelled through PayNow transactions involving three local companies, leading to nine arrests; afterwards, punters in a Telegram group panicked and locals began issuing fake invoices to disguise gambling transactions. The platform appears to be run by Europe-based Ludicrum Tech, and a leaked Curacao Gaming Control Board document links a company called Grand Complications to GemBet's licence application, showing it accepts Southeast Asian currencies and cryptocurrencies via PayNow and DuitNow. Grand Complications described itself as an online casino operator dedicated to transforming gaming in the Southeast Asian market. Authorities across the region are cracking down, including Indonesia blocking nearly 40,000 bank accounts, while Singapore police block illegal gambling sites and transactions. Illegal gambling in Singapore carries penalties of up to seven years' jail and a $500,000 fine, with repeat offenders facing up to 10 years and $700,000.
(Source：The Star)