On 18 May 2021, a 66-year-old former remisier of Lim & Tan Securities Pte Ltd (“Lim & Tan”), was convicted and sentenced for criminal breach of trust under the Penal Code (“PC”).
Between 19 January 2010 and 26 November 2015, the former remisier was entrusted with pre-signed cheques from an 87-year-old victim for the purpose of shares purchases. He did not conduct the shares purchases as instructed by the victim but instead, filled out the cheques and deposited them into his own bank accounts. These monies were subsequently used by him for his own purposes. In total, the accused dishonestly misappropriated S$127,303.02 from the victim over 54 occasions in this manner.
The accused left Lim & Tan on 1 June 2016 and stopped working as a remisier. However, he still collected another pre-signed cheque from the victim when the latter wanted to purchase shares. As before, the accused did not conduct the shares purchase and instead deposited the cheque for a sum of S$1,002.80 into his own bank account on 31 October 2016.
The accused was charged on 23 October 2020 for six amalgamated charges of criminal breach of trust as an agent under Section 409 of the PC and one charge of criminal breach of trust under Section 406 of the PC.
The accused pleaded guilty to two amalgamated charges under Section 409 of the PC and one charge under Section 406 of the PC and was sentenced to 15 months’ and 4 weeks’ imprisonment. Four amalgamated charges under Section 409 of the PC were taken into consideration for the purpose of sentencing. Full restitution has been made to the victim.
SINGAPORE POLICE FORCE
18 May 2021 @ 6:05 PM