Man charged with criminal breach of trust involving nearly S$600,000

[youallhumsup]

Man charged with criminal breach of trust involving nearly S$600,000
By Shaffiq Alkhatib | Posted: 31 August 2011 1416 hrs

SINGAPORE: An ex-accounts manager of an airfreight company has been charged with three counts of criminal breach of trust involving nearly S$600,000.

Thirty-six-year-old Mohd Azmi Ishak, formerly from Itochu Logistics, allegedly converted the money for his own use from November 2008 until April this year.

The court heard that the firm used to entrust him with pre-signed cheques for company expenses.

The stocky man who sports a crew-cut is represented by lawyers, Mr Alfred Lim and Mr Josephus Tan.

Prosecution said that the amount he had allegedly taken has not been recovered.

However, Mr Lim told District Judge Lim Tse Hwa that "restitution is in the process of being made".

Mohd Azmi was offered a bail of S$50,000 and his pre-trial conference will be held on November 24.

If found guilty, he can be jailed up to 15 years and fined for each charge.

- CNA/cc

 

[Ultimate Warrior]

Accounts manager with a dark past strikes again

Published on Mar 14, 2012
By Khushwant Singh

It was akin to getting a fox to guard a chicken coop. Mohd Azmi Ishak, who was jailed 15 months in 2000 for cheating and criminal breach of trust, was hired as accounts manager and put in charge of the finances of Itochu Logistics in March 2008.

By April 2011, he had embezzled nearly $587,000 from the firm located at Airline Road. He pleaded guilty on Wednesday and will be sentenced on April 2.

A district court heard that Itochu's managing director would sign 10 to 20 cheques before going on overseas business trips.

When Mohd Azmi received an invoice, he could fill out he correct details on a photocopy of the cheque and file it with the invoice.

Read the full story in Wednesday's edition of The Straits Times.

 

[X-Wing]

Man jailed six years for cheating former employer
By Claire Huang | Posted: 02 April 2012 1601 hrs

SINGAPORE: A man has been sentenced to six years' jail for cheating his former employer of more than S$500,000.

Thirty-seven-year-old Mohd Azmi Ishak used the ill-gotten money to pay off his debt and personal expenses.

Mohd Azmi stole almost S$587,000 from Japanese firm Itochu Logistics between 2008 and 2009.

He joined the company in March 2008 as accounts manager, drawing a monthly salary of S$3,300.

Investigations showed that he was facing financial difficulty due to credit card debts and other loans.

He started misappropriating money from the company by using pre-signed cheques issued to him by the firm's managing director.

The MD, Mr Iwasaki Yuji travelled extensively and would pass the accused 10 to 20 pre-signed cheques in case urgent payment was required.

Between November 2008 and October 2009, the accused helped himself to 16 pre-signed cheques, cheating the firm of more than S$265,000.

Mohd Azmi also misappropriated more than S$205,000 on 10 occasions from February 2010 to September 2010.

The third charge of misappropriating some S$116,000 from November 2010 to April 2011 was taken into consideration.

His misdeeds were discovered when the firm hired external auditors in May last year.

In sentencing, district judge Wong Choon Ning noted that restitution of S$17,000 was made through a civil suit filed by the firm.

She also took into consideration the accused's criminal records.

He was formerly convicted of cheating and sentenced to 15 months' jail.

The judge told Mohd Azmi that the previous sentence was "a very clear signal" that he should not commit crimes again.

She pointed out that the sums involved in the current case were large.

The judge added that it is sad he did not cherish the chance to turn over a new leaf, but chose instead to betray the trust of his then employer.

Mohd Azmi could have been jailed up to 15 years and fined on each count.

- CNA/fa

 

[YellowRibbon]

$600,000 for 15mths = $40,000/mth ... good deal ?

Will the company recover the money from him when he come out of prison or already dust under mat ?

If not then the co lose $600,000 for nothing ?