An Indian national, Raju Krishnamoorthi, 45, was charged in a Singapore court on Friday with operating an unlicensed cross‑border money transfer business that is said to have involved more than SGD 38 million (about USD 29 million) in total.
Raju faces two counts related to running the remittance operation. According to reporting by The Straits Times and court documents, he is accused of functioning as a self‑employed foreigner in Singapore without a valid work pass between March 2024 and April 2025, and of engaging in remittance activities while lacking the required authorization. He was also charged with conspiring with a company director to abet a false declaration in a work pass application.
A 33‑year‑old Indian national identified as an alleged accomplice was due to be charged the same day but failed to appear in court; an arrest warrant has been issued for him. Authorities said a review of the matter will be held in June, and Raju’s case is due to be mentioned again in May.
The police and the Ministry of Manpower said in a joint statement that officers conducted a raid at Norris Road in the Little India precinct after receiving a tip‑off. Investigators allege that unlicensed cross‑border money transfer services were being carried out at the premises. During the operation, officials seized over SGD 314,000 in cash, 30 ATM cards, one hard disk, two mobile phones and multiple remittance transaction record books.
Raju remains subject to the pending court process as the matter proceeds to further hearings and review.
