Singapore Police Charged Online Trading Platform Samtrade FX Executives (CEO Goh Nai De, CTO Goh Li Xing & Head of Dealing & Strategy Yue Jingyuan Alfred) for FX Trading Fraud & Money Laundering and Received $10.9 Million (S$14.1 Million)
18th December | Hong Kong
The Singapore Police Force has charged online trading platform Samtrade FX executives (CEO Goh Nai De, CTO Goh Li Xing & Head of Dealing & Strategy Yue Jingyuan Alfred) for FX trading fraud & money laundering and received total of $10.9 million (S$14.1 million). Singapore Police Force (17/12/25): “On 17 December 2025, three men – Goh Nai De, Goh Li Xing and Yue Jingyuan Alfred (“Alfred Yue”) – of the online trading platform, Samtrade FX, were charged in court for engaging in practices that were likely to operate as a fraud, as well as for money laundering. The three men held the positions of Chief Executive Officer, Chief Technology Officer and Head of Dealing and Strategy at Samtrade FX respectively. Samtrade FX allowed its clients to trade in contracts for differences in foreign exchange, indices, commodities and cryptocurrencies. One of the products offered by Samtrade FX was “copy trading” where clients could choose to “copy” the trades executed in certain trading accounts. The vast majority of the clients’ copy trades ultimately copied the trades in 11 accounts known as “Ultimate Trader” accounts, which were under Alfred Yue’s control. Between 1 January and 27 December 2021, the trio allegedly engaged in a conspiracy in which Alfred Yue fraudulently tilted the trades he executed in the said 11 “Ultimate Trader” accounts. Specifically, Yue adjusted the bid-ask spreads of trades in these accounts so that copied trades appeared profitable to Samtrade FX clients, without the clients knowing that the trades were fraudulently tilted. During the same period, Goh Nai De, Goh Li Xing and Alfred Yue received funds totalling about S$8.7 million, S$4.8 million and S$650,000 respectively from the above alleged fraudulent practices. These funds were derived from monies deposited by clients of Samtrade FX who had copied Alfred Yue’s fraudulently tilted trades.” Monetary Authority of Singapore (3/1/22): “The Commercial Affairs Department (CAD) of the Singapore Police Force and the Monetary Authority of Singapore (MAS) launched a joint investigation into online trading platform, Samtrade FX run by Samtrade FX Limited, a company registered in St Vincent and the Grenadines and into its related Singapore entities Samtrade FX LLP and Samtrade FX (SG) Pte Ltd [1] on 28 December 2021. Samtrade FX Limited and its related entities are not licensed by MAS, and have been placed on MAS’ Investor Alert List since July 2021. Samtrade FX Limited and its related entities are currently being investigated for potential offences under Section 82 of the Securities and Futures Act 2001, which prohibits any person from carrying on a business in any regulated activity without a capital markets services licence. There is reason to suspect that irregular trading activities have been carried out on the platform and investigations are being carried out on these activities. Three men, aged between 31 and 36, have been arrested in connection with the investigation.”
“ Singapore Police Charged Online Trading Platform Samtrade FX Executives (CEO Goh Nai De, CTO Goh Li Xing & Head of Dealing & Strategy Yue Jingyuan Alfred) for FX Trading Fraud & Money Laundering and Received $10.9 Million (S$14.1 Million) “
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Singapore Police Charged Online Trading Platform Samtrade FX Executives (CEO Goh Nai De, CTO Goh Li Xing & Head of Dealing & Strategy Yue Jingyuan Alfred) for FX Trading Fraud & Money Laundering and Received $10.9 Million (S$14.1 Million)
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