SINGAPORE – A Singapore Armed Forces regular has been given a jail sentence after he agreed to help a woman incorporate a company, and had one opened under his name.
According to court documents, the bank account of the firm, called Prodigym Trading, later received a total of US$274,945 (S$372,110) in scam proceeds from March 14 to 16, 2022.
N. M. Pranesh, 25, who was the company’s sole director and shareholder, was sentenced to 11 months’ jail on Sept 24.
He was also banned from being a director of any company and taking part in the management of any firm for a period of five years from his release date.
He had pleaded guilty to being involved in an arrangement linked to the benefits of criminal conduct.
He also admitted he had failed to exercise any supervision over Prodigym’s affairs.
The bank closed Prodigym’s account in April 2022, and the company was struck off the following year.
The Straits Times has contacted the Ministry of Defence over Pranesh’s case.
His legal woes started in January 2022, when a woman known only as “Judy” contacted him via Telegram and asked if he was interested in helping her incorporate a company in Singapore.
Court documents stated that “Judy”, who had a Malaysian phone number, then promised to pay him $10,000 over a two-month period as part of an “investment plan”.
It purportedly involved him helping her to set up the firm to sell watches from China.
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