Singapore grants bail for Nvidia chip smugglers in alleged $390M fraud
A judge in Singapore granted bail to three men Suspected to mislead suppliers of server computers that can contain NVIDIA chips that are affected by American export rules that prohibit their sale to certain countries, as a route to stop organizations in China.
The move comes almost two weeks after the three men in the city state were accused of smuggling Nvidia chips and committing fraud against Dell and Super Micro By incorrectly mentioning where the servers would be found.
Prosecutors of Singapore said that the fraud case was involved with servers provided by Singaporean companies and then moved to Malaysia, with transactions of a total of around $ 390 million, According to a report from Reuters. It is unclear what the final destination would be for those servers.
The bail for the two Singaporean men was set at S $ 800,000 ($ 600,000) and S $ 600,000 each, while the third man, a Chinese national, had set his bail on S $ 1 million. The next hearing will be held on May 2.
The prosecution asked for a delay of eight weeks to complete the investigation and asked for specific conditions, including the extermination of the men of airports or border control points and forbid them to discuss the case if they are released on bail, released, Per Bloomberg. The Chinese man Reportedly Must wear an electronic monitoring device.
According to Nvidia’s last Annual reportSingapore accounted for 18% of the turnover in the tax year that ended on January 28, despite shipments to the country that made up less than 2% of sales.
China’s Deepseek attracted global attention in the AI industry in January because of the advanced technology and cost-effective solutions, which led to increased concerns about how and where the chips stop. Deepseek’s AI is powered by the Nvidia chips, despite efforts to limit exports and to prevent the technology from being used in China.
Malaysia Said last week that the “necessary action” would take Against Malaysian companies involved in a fraud case with regard to the alleged transfer of Nvidia chips from Singapore to China.
