![\"\"](\"https:\/\/sg.everydayonsales.com\/news\/wp-content\/uploads\/2020\/06\/1-124.jpg\")
Image By Micha\u0142 Parzuchowski via Unsplash<\/p><\/div>\n
A 34-year-old Pawnshop director was charged in court on June 16 for siphoning $5.4 million from his company and gambling it on the casino. According to the Singapore Police Force, he has been allegedly making unauthorized cash cheques to be drawn from the company bank account for a period of 5 years between June 2013 to August 2018.<\/p>\n
In order to cover up this whole operation, he has created fake pawn tickets and falsified entries in the company’s database. He was also accused of using the funds to gamble at the casino and interest payment for the monthly renews of the fake pawn tickets and using the money to purchase branded watches and make down-payment on a luxury car. There were a total of 11 charges which are:<\/p>\n
\n- Two counts of criminal breach of trust, which carries a jail term of up to 15 years and a fine<\/li>\n
- Two counts of falsification of accounts, which carries a jail term of up to 10 years and a fine<\/li>\n
- One count of cheating, which carries a jail term of up to three years and fine<\/li>\n
- One count of cheating and dishonestly inducing delivery of property, which carries a jail term of up to 10 years and a fine<\/li>\n
- Four counts of converting benefits of criminal conduct (money laundering), which carries a jail term of up to 10 years and a fine of up to S$500,000, or both<\/li>\n
- One count of using the benefits of criminal conduct (money laundering), which carries a jail term of up to 10 years, a fine of up to S$500,000, or both<\/li>\n<\/ul>\n
<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Pawnshop Director To Be Charged On Siphoning $5.4M For Gambling A 34-year-old Pawnshop director…<\/p>\n","protected":false},"author":6,"featured_media":8559,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[65],"tags":[1237],"yoast_head":"\n
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