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Oct 7, 2009
Falsifying accounts: 2 charged <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Elena Chong </td></tr></tbody></table>
A FORMER businessman and his then construction manager were charged in a district court on Wednesday with five counts of falsifying accounts with intent to defraud. Teo Thian Seng, 58, and Sim Beng Yeow, 54, were Boustead Projects' managing director and construction manager respectively when they allegedly falsified company accounts between Aug 25 and Oct 27, 2005. Boustead allegedly levied charges on their sub-contractors in return for supporting their application of man year entitlements made to the Ministry of Manpower for the recruitment of foreign workers. The two men allegedly camouflaged these charges by falsely classifying them in the company accounts as deductions from the project agreements with their subcontractors. Teo was represented by Mr Aaron Lee while Sim was given a week to engage a lawyer. Their respective police bails of $100,000 and $50,000 were extended. A pre-trial conference is set for Nov 19. If convicted, each can be jailed for up to seven years and fined on each charge.
Oct 7, 2009
Falsifying accounts: 2 charged <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Elena Chong </td></tr></tbody></table>
A FORMER businessman and his then construction manager were charged in a district court on Wednesday with five counts of falsifying accounts with intent to defraud. Teo Thian Seng, 58, and Sim Beng Yeow, 54, were Boustead Projects' managing director and construction manager respectively when they allegedly falsified company accounts between Aug 25 and Oct 27, 2005. Boustead allegedly levied charges on their sub-contractors in return for supporting their application of man year entitlements made to the Ministry of Manpower for the recruitment of foreign workers. The two men allegedly camouflaged these charges by falsely classifying them in the company accounts as deductions from the project agreements with their subcontractors. Teo was represented by Mr Aaron Lee while Sim was given a week to engage a lawyer. Their respective police bails of $100,000 and $50,000 were extended. A pre-trial conference is set for Nov 19. If convicted, each can be jailed for up to seven years and fined on each charge.
