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SINGAPORE \u2013 While working as a group financial controller for his company, a man siphoned $35,500 from the firm\u2019s coffers over 1\u00bd years. <\/p>\n
Lim Lei Ming, 39, did so by writing cheques authorising payments from the company to his and his family members\u2019 bank accounts.<\/p>\n
On Dec 3, Lim was sentenced to six months and two weeks in jail after he pleaded guilty to two counts of criminal breach of trust and one count of falsification of accounts.<\/p>\n
Five other charges of the same nature and one charge of forgery were taken into consideration for the Malaysian national\u2019s sentencing.<\/p>\n
The court heard that in August 2018, Lim started working as a group financial controller at Altus Oil & Gas Services, which handles freight and logistic arrangements for oil and gas companies in South-east Asia.<\/p>\n
Lim\u2019s job scope included overseeing the firm\u2019s cash flow and accounts, and ensuring that payments were made to its vendors. <\/p>\n
He had full access to the company\u2019s electronic accounting system and was one of the authorised signatories for transactions involving its corporate bank account.<\/p>\n
At the time, the firm had a practice of maintaining a certain number of cheques pre-signed by another signatory, the general manager of Altus, to facilitate making payments at short notice.<\/p>\n
From March 2019 to September 2020, Lim began signing off on cheques authorising payments to be made from Altus\u2019 corporate bank account to accounts belonging to his wife, brother-in-law and himself.<\/p>\n
He would then cash the cheques and withdraw the money to use for his personal expenses.<\/p>\n
To conceal his tracks, Lim would then access Altus\u2019 electronic accounting system and alter the records to falsely indicate that the withdrawn money was used for the firm\u2019s expenses.<\/p>\n
Deputy Public Prosecutor Yee Jia Rong said that Lim misappropriated a total of $35,500 and has made no restitution to date.<\/p>\n
In October 2023, an accounting consultant auditing the company\u2019s financial records made a police report after he suspected that some transactions and documentation were fraudulent.<\/p>\n
Lim was arrested on July 14 and charged in court two days later.<\/p>\n
DPP Yee asked for Lim to be jailed for between seven and nine months, noting the high degree of abuse of trust and the premeditation and planning involved in his offences.<\/p>\n
In mitigation, Lim\u2019s lawyer, Ms Ning Jie from Ho & Wee law firm, said her client was deeply remorseful and has cooperated with the authorities. <\/p>\n
\u201cMy client has otherwise been law-abiding and gainfully employed to support his family,\u201d said Ms Ning.<\/p>\n
District Judge Janet Wang said that while Lim had no previous criminal records, he can hardly be described as a first offender, given the sustained pattern of offending in this case.<\/p>\n
For criminal breach of trust, Lim could have been jailed for up to 15 years and fined for each charge. For falsification of accounts, he could have faced up to 10 years\u2019 jail or fine, or both, for each charge.<\/p>\n<\/div>\n