May 11, 2011
Ex-AIA agent charged over fake $6.2m policy
She faces 19 charges; bail cut from $2m to $300k on appeal
By Lorna Tan, Senior Correspondent
Sally Low Ai Ming, 34, allegedly told a businessman he could apply for an "AIA Thank You" policy when such a product did not exist. This led him to remit US$5.06 million to AIA. -- ST FILE PHOTO
A FORMER AIA insurance agent who allegedly sold a fake US$5 million (S$6.2 million) insurance policy is facing fraud and cheating charges, including using forged documents.
The charges were laid against Sally Low Ai Ming, 34, at the Subordinate Court last Friday and bail set at $2 million. She failed to raise the cash and was remanded at Changi Women's Prison.
She broke down when she appeared in court yesterday to ask that the bail be reduced to $200,000. Her mother also cried. Bail was revised to $300,000 but Low has to surrender her passport and report weekly to the authorities.
The charges - four of cheating, 11 of fraudulent use of forged documents and four of moving crime proceeds to bank accounts and to partially pay for a property - stem from a police report made more than a year ago by a customer who bought a fake 'AIA Thank You' policy from Low in November 2002.
Low allegedly told semi-retired businessman Ong Han Ling, 72, that he could apply for the policy when she knew such a product did not exist. The act of deception led him to remit US$5.06 million to AIA, according to the charge sheet.
Low also allegedly told Mr Ong that two computer errors at AIA caused three policies to be issued in his name and that of his wife. It is claimed that Low then caused these policies to be surrendered and the three sums - about US$5.29 million, US$1 million and $1 million - were delivered to her on behalf of AIA. There were in fact no computer errors.
Read the full story in Tuesday's edition of The Straits Times.
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