Duo Cheated 8 Banks In Singapore & HK For $470M
Photo by Pixabay
Meanwhile, in movies, we usually see criminals successfully pulling out a plot by stealing away hundreds of millions of dollars is considered something miracles and it might be hard to be pulled off in the real-reality world.
In Singapore, a former chief financial officer 60 and a former treasury manager 34 will be charged on June 12 for cheating eight banks in Singapore and Hong Kong for more than US$430 million (SGD $472 million).
This duo allegedly to create fake sales and invoice to obtain financing support from eight banks between July 2017 and Dec 2019. The investigation carries out by the police’s Commercial Affairs Department showed that the bank disbursed the loans to their company.
The 2 suspect, Chief finance officer who is male will face a total of 58 charges while the female treasury manager will face 63 similar charges. Each offense of cheating or forgery for the purpose of cheating carries a jail term of up to 10 years and a fine up to S$500,000 for each charge of abetting the entering of an arrangement to facilitate the benefits of criminal conduct