NRI Raju Krishnamoorthi Jailed in Singapore for Illegal $28 Million Money Transfer Scheme
Los Angeles/July 15, 2026
NRIpress.club/Ramesh/A.Gary Singh
NRI Raju Krishnamoorthi, 45, has been sentenced to nine months and seven weeks in jail and fined S$60,000 after pleading guilty to operating an illegal cross-border money transfer business and aiding a false work pass application.
According to court documents, Krishnamoorthi helped run an unlicensed remittance operation from a shophouse in Little India, Singapore, between February and April 2025. Working with an associate known as "Syed," he collected more than S$28 million from customers, primarily migrant workers sending money to India.
Investigators said the syndicate used a carefully planned cash-handling system, including a unique verification method involving S$2 banknotes with matching serial numbers to ensure cash was handed to the correct courier. During peak salary periods, Krishnamoorthi reportedly handled up to S$1 million in cash.
Authorities also found that Krishnamoorthi operated his own parallel remittance service, earning more than S$50,000 by using a separate mobile phone to keep those transactions distinct from the syndicate's activities.
The illegal operation came to light after a police raid on April 8, 2025, during which officers seized more than S$314,000 in cash from the premises.
In sentencing, the court noted the scheme involved significant planning and sophistication. Prosecutors said the operation undermined Singapore's financial regulatory framework and emphasized the importance of enforcing laws governing money transfer services and work pass regulations.
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