Two ex-directors charged in separate cheating cases
The court heard cheating cases committed by two men who allegedly gave false information when submitting invoices.
SINGAPORE — A former managing director of a packaging manufacturing firm and a former director of a marine engineering company were charged separately in court on Thursday (June 11) with cheating offences allegedly committed between 2016 and 2018.
The first man, 61-year-old Chong Teng Siow, is accused of conspiring to use forged documents in order to cheat The Bank of East Asia Limited Singapore into issuing credit facilities.
Chong was the former managing director of Jit Cheng Graphic & Paper Manufacture, which is now in liquidation. He faces 28 charges of cheating.
The police said on Wednesday that the scheme involved loans of more than S$2 million disbursed to Jit Cheng by Bank of East Asia, a Hong Kong-based bank.
Between May 2016 and June 2018, Chong allegedly submitted several fake sales invoices to the bank so that he could fraudulently get financing via the bank’s factoring facility.
The invoices listed transactions that Jit Cheng purportedly made with more than 10 other companies, but investigations by the Commercial Affairs Department here revealed that the invoices were fraudulent.
Court documents stated that Chong allegedly conspired with someone named Doreen Toh, who is accused of forging documents for fake business transactions involving the printing and sale of customised cardboard boxes.
Chong will return to court on July 29 and is expected to plead guilty then.
The second man, 45-year-old Ramu Bangaraiyah, faces 21 counts of cheating and another two attempted cheating charges.
Ramu, a Singapore permanent resident from Malaysia, was the former director of BTR Marine & Engineering.
He allegedly used a PDF editor software to add inflated values into tax invoices for work done for Keppel Shipyard before submitting them to Malayan Banking Berhad (Maybank) Singapore on 23 occasions between September 2017 and February 2018.
This was to get significantly higher advance payments of more than S$254,000 in total, the police said in a press release.
Ramu will return to court on July 9.
For each cheating charge, both men face up to 10 years’ jail and a fine.
Attempted cheating charges carry the same punishment.
