Singapore’s Underpants Money Heist: Two Expats Arrested After a $400k Escape
Singapore – In a plot that could make even the most seasoned spy blush, two foreigners were nabbed after attempting to bolt out of the city with more than $400,000 tucked into their trunks. The duo, Frenchman David Weidmann (37) and Romanian Iosif Kiss (40), were caught at Woodlands Checkpoint in September while plotting a shady commission in a €7 million ($11 million) boat‑deal.
What was the scam?
The scheme began in early 2018 when Singapore’s Oceanic Group, a cruise and leisure outfit, signed a broker agreement with a foreign buyer to sell a vessel. The managing director, Daniel Chui Mun Yew, met the buyer’s rep in Paris and agreed that the commission would be paid in cash.
Fast forward to August: Weidmann and Kiss, both in Paris, were hired by a mysterious figure known only as “Boris” to act as the buyer’s agents in Singapore. They earned a flat $5,000 plus €2,000 for travel expenses.
How it all unfolded
- August 27 – The pair flew to Singapore and met Chui at Oceanic’s office.
- September 2 – Chui flew to Paris, collected €3.5 million (half of the deposit), then flew back to Singapore.
- While back in Singapore, Chui instructed his staff to hand $1.5 million in commission to the Europeans.
- Shortly after receiving the money, Chui discovered that part of the €3.5 million was counterfeit.
- Chaos ensued. The Europeans were told to hand over ~S$1.08 million to Predrag Nikolic at City Square Mall, then keep $205,000 each for a quick trip to Malaysia.
Flirting with Death and A Coach Ride
Once they had the cash stashed in their underwear (yes, underpants were the vault), they hit the coach, hoping to escape unscathed. Unfortunately, the police had already been tipped off, and the Immigration and Checkpoints Authority had the city on high alert.
The Result
- September 2 – Both strangers were caught at Woodlands Checkpoint.
- They face 44 months in jail each after pleading guilty to conspiracy charges.
- Recovered funds: Out of S$1.5 million lost, around S$1.15 million has been recovered.
- Predrag Nikolic and his French relative, Dalida, were each sentenced to 2½ years for their roles.
Despite all the drama, the identity of “Boris” remains a mystery. The case showcases how even a seemingly routine boat sale can spiral into a full‑blown money‑laundering fiasco.
The story first hit The Straits Times, and permission is required for reproduction.
