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Two Plead Guilty in Singapore's Biggest Public Fraud Since 1995
Andrea Tan, ©2011 Bloomberg News
Friday, October 28, 2011
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Oct. 28 (Bloomberg) -- Koh Seah Wee and Lim Chai Meng pleaded guilty for their roles in cheating Singapore government agencies of S$12.5 million ($10 million) in the city's biggest public-sector fraud since 1995.
Koh, 41, formerly a deputy director at the Singapore Land Authority, pleaded guilty to 55 charges including cheating and conversion of property from criminal proceeds at a hearing in Singapore today. Lim, 38, who was his subordinate, pleaded guilty to 49 counts including money laundering.
The two men have yet to be sentenced and face a maximum of 10 years in prison for each cheating charge. Koh is accused of defrauding the land authority of S$12.2 million and the Intellectual Property Office of Singapore of S$286,000 and was charged with 372 counts of cheating and corruption at the agencies. Lim was charged on 309 counts of defrauding the land authority.
Koh is also accused of cheating the Singapore Supreme Court of an undisclosed amount.
The two men submitted false invoices through various shell companies set up by five accomplices for fictitious information technology services and goods at the land agency, according to court papers.
They allegedly used the money to buy apartments and cars including a S$1.6 million limited-edition Lamborghini Murcielago LP670-4 SV and a Ferrari F430.
Ho Yen Teck, an accomplice, was sentenced on Jan. 14 to 10 years in jail.
Least Corrupt
Singapore, rated the least corrupt nation in the world together with Denmark and New Zealand by Transparency International, reviewed its public sector's financial procedures after the fraud was revealed in September 2010. Prosecutors have said the case has "severely shaken the public confidence" in government controls.
The fraud led the law ministry, which oversees both the intellectual property office and land authority, and the Supreme Court to set up independent review panels.
In 1995, Choy Hon Tim, a deputy chief executive at the Public Utilities Board, was jailed for 14 years for taking S$13.9 million in kickbacks in Singapore's largest public sector graft case. Choy was released in 2005 for good behavior.
The case is Public Prosecutor v Koh Seah Wee and Lim Chai Meng CC36/2011 in the Singapore High Court.
--Editors: Lena Lee, Douglas Wong
Two Plead Guilty in Singapore's Biggest Public Fraud Since 1995
Andrea Tan, ©2011 Bloomberg News
Friday, October 28, 2011
Print E-mail Share Comments Font | Size:
0
Most Popular Bloomberg headlines
MF Global Draws Down on Credit Lines
European Stocks Drop From 12-Week High; Wacker Chemie Falls, Renault Rises
EU Debt Plan May Struggle to Thaw Bank Funding
Europe Looks to IMF, China for Rescue-Fund Cash
Merkel Asserts Leadership, Seeks to Win Voters
Get Quote
Symbol Lookup
More Business
UCF board gives president negotiation authority 10.28.11
Chevron 3Q profit more than doubles on higher oil 10.28.11
Consumer spending jumped 0.6 pct. in September 10.28.11
3 years in, Sanofi CEO has transformed drugmaker 10.28.11
Oct. 28 (Bloomberg) -- Koh Seah Wee and Lim Chai Meng pleaded guilty for their roles in cheating Singapore government agencies of S$12.5 million ($10 million) in the city's biggest public-sector fraud since 1995.
Koh, 41, formerly a deputy director at the Singapore Land Authority, pleaded guilty to 55 charges including cheating and conversion of property from criminal proceeds at a hearing in Singapore today. Lim, 38, who was his subordinate, pleaded guilty to 49 counts including money laundering.
The two men have yet to be sentenced and face a maximum of 10 years in prison for each cheating charge. Koh is accused of defrauding the land authority of S$12.2 million and the Intellectual Property Office of Singapore of S$286,000 and was charged with 372 counts of cheating and corruption at the agencies. Lim was charged on 309 counts of defrauding the land authority.
Koh is also accused of cheating the Singapore Supreme Court of an undisclosed amount.
The two men submitted false invoices through various shell companies set up by five accomplices for fictitious information technology services and goods at the land agency, according to court papers.
They allegedly used the money to buy apartments and cars including a S$1.6 million limited-edition Lamborghini Murcielago LP670-4 SV and a Ferrari F430.
Ho Yen Teck, an accomplice, was sentenced on Jan. 14 to 10 years in jail.
Least Corrupt
Singapore, rated the least corrupt nation in the world together with Denmark and New Zealand by Transparency International, reviewed its public sector's financial procedures after the fraud was revealed in September 2010. Prosecutors have said the case has "severely shaken the public confidence" in government controls.
The fraud led the law ministry, which oversees both the intellectual property office and land authority, and the Supreme Court to set up independent review panels.
In 1995, Choy Hon Tim, a deputy chief executive at the Public Utilities Board, was jailed for 14 years for taking S$13.9 million in kickbacks in Singapore's largest public sector graft case. Choy was released in 2005 for good behavior.
The case is Public Prosecutor v Koh Seah Wee and Lim Chai Meng CC36/2011 in the Singapore High Court.
--Editors: Lena Lee, Douglas Wong
