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SINGAPORE \u2013 A senior finance manager at a fuel distributor sold its diesel oil directly to buyers, earning more than $1.1 million from the illegal arrangements over about two years.<\/p>\n
Lee Wai Khong, 37, whose monthly salary was $8,500, initially made an additional $80,000 to $100,000 monthly from the scheme between October 2024 and March 2025.<\/p>\n
His illicit earnings grew to $150,000 to $200,000 a month between April 2025 and July 2025.<\/p>\n
On Aug 28, Lee was sentenced to three years and five months\u2019 jail after he pleaded guilty to one count of criminal breach of trust, and another for the transfer of the proceeds of his criminal conduct.<\/p>\n
Two other charges were taken into consideration during sentencing.<\/p>\n
Court documents show that the Malaysian had worked at PS Energy in Singapore from 2015 to 2019. He rejoined the company in 2021 and was promoted to senior finance manager in 2023.<\/p>\n
As part of his job scope, Lee was tasked to conduct audits on the stockpile of diesel oil and had full access and control over the inventory.<\/p>\n
Sometime in March 2023, a former driver of the company, known to the court as Ricky, contacted Lee to ask for help to rejoin the firm. Lee agreed to help him in exchange for a supplier\u2019s contact.<\/p>\n
The prosecution said Lee knew that the man might have the contact details of several suppliers that bought diesel oil from the company. Lee wanted the contacts so that he could sell his company\u2019s diesel oil to the same suppliers directly and pocket the profits.<\/p>\n
The former driver then gave him the contact of a supplier known as Heng.<\/p>\n
Court documents show that Lee sold diesel oil to Heng on at least seven occasions between August 2023 and October 2024. <\/span>Two charges linked to their dealings were considered in sentencing.<\/p>\n Sometime in October 2024, another supplier known as Jim contacted Lee to purchase diesel oil. Court documents did not say how Jim learnt of Lee\u2019s contact.<\/p>\n Under a similar arrangement, Lee dealt with Jim on 145 occasions between October 2024 and July 2025.<\/p>\n From October 2024 to March 2025, each transaction involved the sale of between 10,000 to 15,000 litres of diesel oil at a price of between 50 cents and 80 cents per litre.<\/p>\n This allowed Lee to earn a profit of between $80,000 to $100,000 per month.<\/p>\n Between April 2025 and July 2025, Lee sold oil to Jim for between eighty cents and $1 per litre, increasing his profits to between $150,000 and $200,000 every month.<\/p>\n In total, Lee pocketed some $1.1 million from his transactions with Jim.<\/p>\n To hide his illegal dealings from the company, Lee handled only cash transactions and arrange for drivers to deliver the oil to Heng or Jim.<\/p>\n Once a delivery was completed, Lee would falsify his company\u2019s inventory records by manipulating adjustments or transfers of diesel oil stock. He knew his bosses did not check the inventory log as they had given him full control.<\/p>\n He was caught on July 2, 2025, when Singapore Customs officers raided the firm\u2019s office located near Jurong Town Hall and found stacks of cash in a drawer in his office. The officers then made a police report.<\/p>\n The court statements did not state why the office was raided.<\/p>\n Lee admitted his scheme to the police. He had kept more than $227,000 of his profits in his office.<\/p>\n Around $320,000 of the profits was deposited into his bank account, while the remaining $599,800 were in a safe deposit box in Jurong East.<\/p>\n Lee has since returned the money to his company.<\/p>\n<\/div>\n SINGAPORE \u2013 A senior finance manager at a fuel distributor sold its diesel oil directly to buyers, earning more than $1.1 million from the illegal…<\/p>\n","protected":false},"author":1,"featured_media":73227,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-80349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/80349","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=80349"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/80349\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/73227"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=80349"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=80349"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=80349"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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