SINGAPORE – Tempted by fast cash, a man agreed to be a “dummy director” of multiple companies, and one of them later processed US$1 million (S$1.3 million) in scam proceeds through its bank account.
Tan Yew Sin also tried to deposit a cashier’s order for over $7 million in scam proceeds for another company.
Both firms – Accord Technology and Huachang Trading – were shell companies with no legitimate businesses, the court heard.
On Nov 10, Tan, 24, a Singaporean, was sentenced to two years and three months’ jail after he pleaded guilty to offences including those linked to the benefits of criminal conduct.
Deputy Public Prosecutor Grace Teo told the court that Tan had earlier responded to a job advertisement on messaging platform Telegram in May 2021.
He was then directed to an unidentified person known only as “Lerex”, who offered him $5,000 to become a nominee director for “people from overseas who want to do business in Singapore”.
Without asking for more details, Tan accepted the offer and shared information such as his identity card number and full name with Lerex.
On Aug 30 that year, Tan was appointed as the sole local director of two firms, including Accord Technology. He then received $5,000 in total for agreeing to be their nominee director.
Tan also allowed Lerex, whom he had never met, to open two corporate bank accounts in his name on Accord Technology’s behalf.
The DPP said that Tan, who did not access these accounts, later passed Lerex the necessary log-in details linked to them.
She added: “He was concerned that Lerex may be using the accounts for illegal activities but accepted Lerex’s assurance that there was nothing illegal about it without conducting checks of his own.”
On Sept 24, 2021, a representative of a company called S&B Engineers and Constructors lodged a complaint in the United States with the country’s Federal Bureau of Investigation (FBI). The complaint alleged that the firm’s client, Bia Energy Operating Company, had fallen victim to a business e-mail compromise scam.
