• IP addresses are NOT logged in this forum so there's no point asking. Please note that this forum is full of homophobes, racists, lunatics, schizophrenics & absolute nut jobs with a smattering of geniuses, Chinese chauvinists, Moderate Muslims and last but not least a couple of "know-it-alls" constantly sprouting their dubious wisdom. If you believe that content generated by unsavory characters might cause you offense PLEASE LEAVE NOW! Sammyboy Admin and Staff are not responsible for your hurt feelings should you choose to read any of the content here.

    The OTHER forum is HERE so please stop asking.

Ho Yen Teck, a Singapore Land Authority contractor guilty in biggest public fraud

Watchman

Alfrescian
Loyal
Ho Yen Teck, a Singapore Land Authority contractor
admits guilt in biggest public fraud case

December 15th, 2010 | Author: Online Press


Lamborghini Murcielago LP670-4 SV

Ho Yen Teck, a Singapore Land Authority contractor, pleaded guilty to conspiring to cheat the agency in the city state’s biggest public sector fraud case in 15 years.

Ho, a 31-year-old businessman, pleaded guilty to 21 counts of conspiring to cheat the government. He had been charged with 195 counts. Prosecutor Ong Luan Tze said at a hearing today 174 of the 195 counts were stayed. Ho is scheduled to be sentenced Jan. 7. He faces as long as 10 years in jail on each count.

Eight people, including two former land authority officials, were accused of cheating the public sector department of S$12.2 million ($9.3 million). The fraud has led to a review of the government’s financial procedures.

Koh Seah Wee, 40, a former deputy director at the land authority and his subordinate Christopher Lim Chai Meng, 37, submitted false invoices through various businesses for fictitious information technology services and goods, the law ministry and the land authority said in a statement on Sept. 28.

Ho and the other men failed to deliver goods and services billed by their firms to the land authority, according to court documents. About S$10 million in cash and assets has been recovered, police said.

Koh used the money to buy luxury cars including a S$1.6 million Lamborghini Murcielago LP670-4 SV, $500,000 worth of American International Group Inc. shares and apartments, according to police documents.

14-Year Jail Term

In 1995, Choy Hon Tim, a deputy chief executive at the Public Utilities Board was jailed for 14 years after he was convicted of taking S$13.9 million in kickbacks in Singapore’s largest public sector graft case.

The law ministry, which oversees the land authority, has also ordered disciplinary investigations of two officers whose oversight might have allowed the alleged fraud to occur. The land authority said its finance and procurement processes were in accordance with government guidelines.

Singapore’s government agencies and ministries are audited externally each year and carry out “regular” internal audits, according to the finance ministry
.

.

by Andrea Tan, Bloomberg
 
Top