SINGAPORE: A director and his company were sentenced on Tuesday (Jan 6) over money laundering offences.
Sim Chee Wei was sentenced to eight months and one week’s jail for one count under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA) and another count under the Companies Act (CA). Another count each under the CDSA and CA was taken into consideration during sentencing.
His company SIMCW Tech was fined S$32,000 (US$25,000) for one charge under the CDSA, with a further count under the same Act taken into consideration during sentencing.
