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SINGAPORE – A 56-year-old man is set to face several charges, including cheating and money laundering, offences that caused his ex-employer to lose over $2 million.<\/p>\n
The police said in a press statement on Oct 25 that they received a report on July 16, 2025, which alleged that a former employee of a company had committed fraud over a period of about six years.<\/p>\n
Preliminary investigations showed that the man had abused his position as a logistic manager in the company to register a sole proprietorship under his wife\u2019s name without her knowledge.<\/p>\n
He subsequently submitted 128 fictitious invoices for logistics services that were never rendered, which caused the company to suffer an estimated loss of more than $2 million.<\/p>\n
Further investigations revealed that he had used the criminal proceeds for personal investments and expenditure.<\/p>\n
The man is expected to be charged in court on Oct 26 with one count of unauthorised access to computer material under Computer Misuse Act, six counts of cheating under the Penal Code and six counts of money laundering under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.<\/p>\n
If convicted of unauthorised access to computer material, he can be fined up to $50,000, jailed up to seven years, or both.<\/p>\n
He can jailed up to 10 years and fined if he is found guilty of cheating.<\/p>\n
Those found guilty of money laundering can be fined up to $500,000, jailed up to 10 years, or both.<\/p>\n
The police said they take a serious view of commercial fraud and financial crimes.<\/p>\n
\u201cThose who abuse their positions of trust to commit fraud and launder criminal proceeds will be dealt with severely in accordance with the law,\u201d the police said in the statement.<\/p>\n<\/div>\n
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