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Cao Pi
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Sep 22, 2010
Goldin's director fined $25k
By Khushwant Singh
Daniel Tee Kok Chin, a former director of Goldin Enterpise Pte Ltd, was accused for using companys' monies to pay for his personal expenses, credit cards, playing jackpot machines, buying watches and gambling. -- ST PHOTO: WONG KWAI CHOW
A DIRECTOR of a logistics company was fined $25,000 by a district court on Wednesday for asking a staff member to falsify payment vouchers amounting to $86,000. Daniel Tee Kok Chin, 37, of Goldin Enterprise was also barred from holding a director's position in any firm for three years.
He had pleaded guilty last week to five counts of failing to act honestly in the discharge of his duties under the Companies Act. The court then heard that he had used the money to pay his personal credit card charges and to gamble on jackpot machines here and in overseas casinos.
According to court documents, Tee, who is also known as Daniel Tee Chiu Jin, got his wife Madam Audrey Sim Eng Eng, who was the firm's head of finance, to prepare false payment vouchers of between $4,000 and $5,000 on 19 occasions between August 2006 and April 2007.
She would then get the cash cheques signed by Tee and another director of the family-run business. The three other directors were Tee's father, mother and brother. Tee was the managing director at that time and was responsible for day-to-day operations. His monthly salary was $8,000.
District Judge Thian Yee Sze fined him the maximum $5,000 on each of the five charges. Another 14 charges were taken into consideration in the sentencing. Tee could be jailed up to a year for each offence.
