Man charged with criminal breach of trust amounting to S$4m

[Yi Dao]

Man charged with criminal breach of trust amounting to S$4m

By Claire Huang | Posted: 05 December 2012 1409 hrs

SINGAPORE: A 50-year-old man has been charged with two counts of criminal breach of trust amounting to close to S$4 million.

Fazal Mohamed Mohamed Ebrahim faces a third charge of carrying out a money-changing business without a valid licence in March last year.

Between March and October 2011, Fazal Mohamed was allegedly entrusted with about S$3.7 million by a Mr Ng Hwee Boon and another S$270,000 or so, from a Ms Angeline Ong Hsiao Wei.

The court heard that the money was given to Fazal Mohamed for foreign exchange investment purposes.

If convicted, the accused faces a maximum jail term of seven years and a fine.

For illegal money-changing, he could be jailed up to two years and fined up to S$100,000.

- CNA/ck

 

[Hudson]

Moral of the story - No do CBT small time. Want to do, do it big.

Get caught? Pay whatever they can confiscate and go to jail.

But if the amount is really big, it may be worth since the maximum jail time is 7 years and a fine.

After jail time, can really have Swiss standard of living.

 

[Hudson]

One CCB bastard zapped me here and left this message.

05-12-2012 06:59 PMThread: Man charged with criminal breach of trust amounting to S$4m
cheers

Bloody bo lumpar. Dare to zap don't dare to leave your nick. Pui! CCB!!

Wish you bastard sway sway big time for the next 10 years! CCB!!