Two men charged with misappropriating S$600,000 to fund their business

SINGAPORE: Two men were on Friday (Jun 24) charged with misappropriating S$600,000 and using the money to fund their own business.

The accused - a 45-year-old man and a 37-year-old man - were charged with two counts of conspiring to dishonestly misappropriate money that was entrusted to the elder man, said the police in a news release. 

In 2019, the 45-year-old man was allegedly handed S$5.6 million by a money changer to obtain cashier’s orders of the same amount.

He and the 37-year-old are accused of using S$600,000 of the money for their own business, said the police. 

The offence of conspiring to commit criminal breach of trust carries a jail term of up to seven years and a fine.