Fines for two co-founders of Fullerton Healthcare Corp over falsified claims linked to S$211,000

In August 2025, a third co-founder of FHC, David Sin, 47, pleaded guilty to six counts of falsification of accounts and was fined $160,000.

In an earlier statement, the Corrupt Practices Investigation Bureau said that Tan was also a director at Fullerton Healthcare Group (FHG), while Chan was the president of Fullerton Health China. Both companies were subsidiaries of FHC.

The two men no longer hold their respective positions in the companies.

Deputy public prosecutors Jonathan Tan and Ashley Chin stated in court documents that FHC was in the business of investment holding.

In 2010, Tan and Chan co-founded FHG, which provided healthcare services through a network of doctors and specialists. It also helped clients process insurance claims.

Around 2012, Tan and Chan were looking for business leads when they were introduced to Chiew.

The DPPs said that in 2015, Chiew asked Chan for financial assistance as he needed money for his children and house.

Chan then told Tan about Chiew’s request, added the prosecutors.

From 2015, Chan would go to Hong Kong for work trips about twice a month to help with FHC’s business there.

Before travelling, he would tell Sin that he needed inflated or false KTV receipts, which another man, Tei Chu Pink, 46, would prepare.

During these trips, Chan would join Sin and Tei at KTVs and meet potential investors, before collecting the inflated receipts from Tei.

The DPPs said: “On some occasions, (Chan) would make payments of lesser amounts at the… KTVs using his own cash or credit cards. On other occasions, (he) would not make any payments.”

After returning to Singapore, Chan would arrange for the receipts to be handed to “relevant persons” in FHC or Fullerton Health China.

These individuals would then arrange for them to be processed.

A number of these claims were made with Tan’s knowledge. They were used to obtain funds from FHC to provide financial assistance to Chiew, the court heard.

In one instance in 2016, Tan, Chan and Sin engaged in a conspiracy to falsify an entertainment claim.

On or about Dec 7 that year, Chan submitted receipts to relevant persons in FHC to process a claim of about $82,000 in his name.

Investigations, however, revealed that he had incurred 200,000 yuan – or more than $42,000 as stated in the court documents – in expenses, and that the KTV receipts he submitted were inflated.

This resulted in a falsified amount of nearly $40,000.

Chan and Tan approved an expense claim form linked to the case by signing on it.

In 2018, the two doctors and Sin agreed to claim certain business expenses from FHC, which would be paid from Fullerton Health China’s accounts by using inflated entertainment invoices.

The DPPs said: “The understanding (the trio) had was that the payments were for ‘consultancy services’ provided by Chiew to FHC.”

Chan went on to commit similar offences involving false entertainment claims on four occasions in 2019.

Chan was represented by lawyer Navin Thevar, who told the court that his client had acted on Sin’s instructions.

Lawyers Manoj Nandwani and Sameer Melber represented Tan.

They told the court that his offence was a one-off occasion, and that he had acted out of character. – The Straits Times/ANN