Man arrested for using company funds to pay loanshark debts
AsiaOne
Friday, Feb 01, 2013
The police have arrested a 43-year-old male for misappropriating his company's funds to pay off his debts with loansharks.
He had also lodged a false police report of robbery to cover up for the stolen funds.
On Jan 29, the suspect lodged a report at Sengkang NPC saying that he had been robbed by 3 men earlier in the afternoon at 12.30pm at a multi-storey car park in the vicinity of Buangkok Crescent.
He alleged that he had just collected about $8,400 of payments for his company when 3 men believed to be loanshark runners approached him, demanding for payment. When he refused, the trio assaulted him, and took all the money.
Officers from Ang Mo Kio Police Division conducted extensive concurrent enquiries and follow-up interviews with the suspect who later admitted to have lodged a false report. It was established that the suspect had used the $8,400 to pay off his existing debts with loansharks. To cover up for the loss, he lodged the false report of robbery.
Anyone who is convicted for Criminal Breach of Trust as a Servant may be punished with imprisonment for up to 15 years and shall also be liable to a fine. The punishment for giving any information which he or she knows to be false to a public servant is imprisonment for a term which may extend to one year, or with fine which may extend to $5000, or with both.
