SINGAPORE – A former manager with DBS Bank who cheated seven victims, including his own uncle, of nearly $1.4 million in total, was sentenced to 6½ years’ jail on May 25.
The bulk of the money was used to fund his online gambling habit, wedding and renovations.
In April, Benjamin Chung Hiang Wee, 32, pleaded guilty to six counts of cheating linked to five victims, who were duped into handing over more than $1 million.
Each victim had transferred between $66,550 and $441,850 to him. He also admitted to dealing with the benefits of crime.
On at least 32 occasions between April 2023 and April 2024, he transferred more than $823,000 of his ill-gotten gains from his bank accounts to other accounts.
Chung, who started working as a wealth planning manager in January 2019, had his employment terminated in November 2023 after he breached certain undisclosed regulatory requirements as a financial adviser.
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