Man allegedly linked to investment scheme involving gamblers charged; over $2.2m losses caused

Ong Kah Keong, 54, has been charged with three counts of cheating after allegedly being involved in an investment scheme that resulted in losses exceeding $2.2 million. The charges, filed on October 9, stem from allegations that Ong cheated three individuals between December 2024 and October 2025. Each count involves funds ranging from $30,000 to nearly $1.8 million.

According to police, the scheme involved extending loans to gamblers who needed money, with the promise of guaranteed returns irrespective of the gambling outcomes. Ong allegedly drafted an "investment loan agreement" and continued soliciting funds from the woman, who was deceived into believing the scheme's legitimacy. She ultimately handed over an undisclosed sum of money, only to realize later that she had been scammed when no returns materialized. The woman became uncontactable once she realized the scam.

Preliminary investigations suggest that Ong may be involved in other cheating cases with a similar modus operandi, leading to a total loss exceeding $2.2 million. For each count of cheating, the offender can face up to 10 years in prison, a fine, or both.