SINGAPORE: Two women will be charged in court on Wednesday (Jul 1) after they allegedly used more than S$1.7 million (US$1.3 million) of misappropriated funds to repay loans and gamble.
One of the women, now aged 65, had misappropriated cash from a bank’s vault while working as a branch manager, said the police in a news release on Tuesday.
Between May 2021 and Aug 29, 2022, the woman misappropriated S$1,729,000 from the bank to repay loans and fund gambling activities, said the Singapore Police Force (SPF).
“To avoid detection, she had falsified the cash book records of the bank on at least 206 occasions,” SPF said.
The police were alerted to the case in September 2022, and further investigations revealed the former branch manager handed most of the misappropriated funds to a 36-year-old woman.
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