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SINGAPORE : Mainboard-listed Poh Tiong Choon Logistics on Tuesday said two cases of fraud were committed by three employees of its wholly-owned Delivery2Home unit.
A total of S$130,429.30 had been embezzled or defrauded. The three employees have admitted to their crimes and their employment has been terminated.
The police have completed their investigations on one of the cases, which took place between September 2006 and April 2007. The Subordinate Court has convicted and punished two sales representatives with prison sentences of four and six months respectively.
One of the sales representatives has made a full restitution of S$67,801.07 that he had stolen, and Delivery2Home will commence legal action to recover S$52,448.28 from the other sales representative.
Police investigations into the other case are still on-going.
Delivery2Home said it has undertaken a critical review of its existing internal control procedures and systems.
It concluded that the incidents occurred due to a failure to adhere to existing operating procedures. - CNA/ms
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