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Trio behind alleged multimillion-dollar fraud against IRAS to face 796 more charges

Trio behind alleged multimillion-dollar fraud against IRAS to face 796 more charges

Inland Revenue Authority of Singapore building. (Photo: Gaya Chandramohan)

SINGAPORE: Three people suspected to have made false claims to the Inland Revenue Authority of Singapore (IRAS) will face more charges in court on Thursday (Jan 24).

In a news release, police said Lim Chit Foo, 35, Wang Jiao, 36, and Li Dan, 35, are suspected to have made false claims to the IRAS under the Productivity and Innovation Credit (PIC) scheme, which allows businesses to get tax deductions and allowances on certain expenses.

The three suspects had earlier been charged with various offences for abetting to cheat IRAS of S$2.5 million by submitting PIC claims containing false qualifying expenditures.

Last Wednesday, one of the suspects, Lim, was convicted and sentenced to 40 months’ imprisonment for four counts of perverting the course of justice by instigating witnesses to give false information to the police.

The trio will now face 796 more charges, including abetment to cheat, perverting the course of justice, and acquiring benefits of criminal conduct, which together resulted in a total loss of almost S$11.8 million.

"These charges allege that the three schemed to defraud IRAS between April 2015 and September 2016, which resulted in the submission of 400 false PIC claims by 230 business entities," said the police.

Source: CNA/aa(my)

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