All remaining charges withdrawn for second man linked to scam in which bank lost over $1.79m

The pair were part of a group of five people who worked together on a ruse that led to a bank being duped into disbursing mortgage loans totalling more than $5.1 million.

In an earlier statement, the police said that between 2014 and 2015, Rai devised a scheme to perpetrate mortgage loan frauds involving two properties.

The bank then incurred a loss of over $1.79 million.

The fraud was eventually uncovered when nominee buyers linked to the ruse defaulted on the loans.

Rai was earlier sentenced to 7½ years’ jail in August 2024 after he was convicted of multiple charges for offences including cheating.

Kok, whose offences involved one of the properties, was sentenced to 4½ years behind bars after the court found him guilty of a cheating charge and two counts of using forged documents as original copies.

Kok’s seven other charges were then slated to be dealt with at a later date.

He later appealed against his conviction and sentence.

Responding on Dec 22 to queries from The Straits Times, the Attorney-General’s Chambers (AGC) said that in April, the High Court dismissed Kok’s appeal against his conviction and sentence.

Without revealing details, an AGC spokesperson added: “After careful consideration of the facts and circumstances of the matter, including the sentences related to the charges for which Kok was convicted, the prosecution applied for a discharge amounting to an acquittal for the remaining charges.”

A district court granted it on Dec 16.