Bankrupt S'pore property agent, 51, fakes sales & dupes fellow agents to get advance commission payouts of up to S$91,600
He defrauded others of more than S$100,000, though the actual number is unclear.
A 51-year-old bankrupt property agent, Cheong En Kiong, allegedly faked property sales and duped fellow agents into receiving advance commission payouts of up to S$91,600, according to the source. Cheong pleaded guilty to charges of forgery, cheating, and receiving benefits from criminal conduct on Sep. 8, 2026. The alleged scam involved using the payment system of LytePay, a Singapore-licensed payment institution, to receive the advance commissions.
The scheme exploited the payment process where LytePay disburses advance commissions to real estate salespersons in exchange for a processing fee. Cheong falsified property sale documents, using the signatures of his clients, to mislead fellow agents into believing genuine sales were taking place. He promised them a portion of the commission, which he used to repay his debts.
No restitution has been made to the victims, including LytePay, OrangeTee & Tie, and other agents. Cheong has been an undischarged bankrupt since 2019 and was issued a warning by ERA Real Estate Singapore for his fraudulent actions. He has been remanded since April 2026, with the court considering a sentence of 18.5 to 28 months in prison.
Written by urgent.news from Mothership's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
