SINGAPORE, May 5 — A 32-year-old man admitted in court having lied to seven people — including a trusting uncle who does odd jobs for a living — and walked away with nearly S$1.4 million (RM4.3 million) of their money.

According to The Straits Times, the bulk of that cash, the court heard, vanished into online gambling accounts, paid for a lavish wedding, and covered home renovations. Only a fraction — about S$231,000 — has been returned so far.

Benjamin Chung Hiang Wee pleaded guilty to six cheating charges involving S$1 million. More than a dozen other charges will be considered when he returns to the dock on May 25 for sentencing.

The hardest hit was his own relative. The 62-year-old uncle, who worked as a manual labourer, handed over S$441,850 after his nephew dangled what sounded like a safe deal: a fake two-year fixed deposit promising 4 to 5 per cent interest. There was never any such product.

"He used the money to support his online gambling," deputy public prosecutor Joseph Gwee told the court. "He had no intention of opening a fixed deposit account."

The uncle made multiple transfers between late 2022 and early 2024, even pulling money out of another bank because he believed he was helping his nephew help him. Instead, he lost sleep for a month, was urged to see a psychiatrist, and has since been called "stupid" by other relatives. He no longer speaks to Chung's mother.

Chung's scheme ran from February 2022 to April 2024. Beyond his uncle, he tricked other victims out of sums ranging from S$66,550 to S$441,800 — all using the same lie about fake bank products.

The house of cards fell apart in 2024 when police caught wind that someone was misusing DBS Bank's name to collect money for loans and deposits that did not exist. Chung turned himself in on May 6, 2024, and was arrested right after.

He had joined DBS in January 2019 as a wealth planning manager, selling insurance products for Manulife (Singapore). He was fired in November 2023 for failing to meet regulatory requirements tied to his financial adviser role.

On top of the cheating charges, Chung also moved more than S$823,000 of stolen money across at least 32 accounts — landing him in additional trouble for dealing with criminal proceeds.