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Driver jailed for having $281K of criminal proceeds
Published on Mar 7, 2012
By Khushwant Singh
His accomplice cheated DBS Bank of $2.1 million within three months and passed $281,000 to Abdul Majid Hamid Sultan. When police came calling on Jan 22, 2008, they found Abdul Majid with only $181,000 left.
In a district court on Wednesday, the 54-year-old driver was jailed eight months. He pleaded guilty to possessing proceeds arising from the criminal activity of Quah Lai Meng. He also admitted to assisting in the retention of $1,000 of the ill-gotten gains by opening a Maybank account for his accomplice.
Court documents indicate that sometime in November 2007, Quah, who worked in a mobile phone shop, forged an application to set up a line of credit at DBS using a friend's name and withdrew the maximum of $5,000.
Quah, now 37, began a pattern of depositing dud cheques into the account to make it appear like he repaid the loan, and then drew out more money. It would take one or two working days for the cheques to bounce, but meanwhile the money showed up on his ledger. Quah made use of the window to withdraw the money.
Read the full story in Wednesday's edition of The Straits Times.
