Greed Got the Better of NTUC? Why No Background Check for Such Huge Transaction?

[makapaaa]

2 suspects caught in FairPrice vouchers scam
Posted: 20 November 2011 1052 hrs <LINK rel=image_src href="http://www.channelnewsasia.com/imagegallery/store/phpLSCrja.gif">
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Unused NTUC vouchers together with cigarettes, liquor and electrical products the suspects had purchased using the stolen vouchers. (Photo: Police)[/TD]
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[TD="class: bodytext, width: 96%"][TD="class: bodytext, width: 96%"]FairPrice shopping vouchers stolen[/TD]
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SINGAPORE: Police have arrested two suspects for buying S$500,000 worth of NTUC FairPrice vouchers with a dishonoured cheque and advised the public not to fall prey.

The men, aged 19 and 22, were caught on Saturday in the vicinity of Hougang Street 91 and Bukit Batok East Avenue 4.

They had allegedly paid for the vouchers with a cheque on Thursday.

NTUC FairPrice learnt from the bank that the cheque had bounced as the signature did not match and there were insufficient funds in the account.

When the supermarket chain alerted all its branches and voided the series of vouchers, a substantial portion of vouchers believed to be worth about S$15,000 had been utilised.

Police, who were informed on Friday, quickly established the identities of the two suspects and arrested them the next day.

Officers found unused vouchers worth at least S$484,000, as well as cigarettes, liquor and electrical products that the suspects are alleged to have bought with the vouchers.

The two suspects will be charged in court on Monday.

Police have advised the public to be wary of buying vouchers or any products from unknown or dubious sources as it is an offence to procure stolen goods.

Those who have FairPrice vouchers bearing the serial numbers 607379330 to 607404329 have to hand them over at any police station.

Anyone caught receiving or retaining stolen goods can be punished with jail term of up to five years, or fined, or both.

NTUC FairPrice apologised for the inconvenience caused and will assist customers who are affected.

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[Unrepented]

1. One cheque SGD500,000.00 Individual or Company purchase

2. Why don't issue receipt to customer, wait for cheque to clear then send big box of vouchers worth half a million dollars to customer:*:

3. Can the vouchers be purchased over the counter If so, mighty big lot of vouchers in stock for over the counter sales

4. If not, then it takes time to prepare the vouchers.................:p smell smell

 

[johnny333]

1. One cheque SGD500,000.00 Individual or Company purchase

2. Why don't issue receipt to customer, wait for cheque to clear then send big box of vouchers worth half a million dollars to customer:*:

3. Can the vouchers be purchased over the counter If so, mighty big lot of vouchers in stock for over the counter sales

4. If not, then it takes time to prepare the vouchers.................:p smell smell

Maybe he/they was recommended by a "member" with connections

 

[Airlib]

I think some branch manager thought he/she 'strike' 4D/toto liao... With such a huge purchase of vouchers, sure can hit best sales for the month... End up kenna conned... I think the branch manager sure kenna butter gao gao.

 

[Unrepented]

Just curious, can we buy vouchers from any branch or over the counter? Anyone knows?

I think some branch manager thought he/she 'strike' 4D/toto liao... With such a huge purchase of vouchers, sure can hit best sales for the month... End up kenna conned... I think the branch manager sure kenna butter gao gao.

 

[tanakow]

Yes, you can go to any NTUC fairprice to buy the vouchers. I have bought it once.

 

[Unrepented]

Thanks. Did you ask the cashier? And who did you transact with? (i.e. the cashier or supervisor or duty manager)

Yes, you can go to any NTUC fairprice to buy the vouchers. I have bought it once.

 

[Cestbon]

Yes, you can go to any NTUC fairprice to buy the vouchers. I have bought it once.

Counter will not have $500k voucher. This is management mistake.
Very smart for the person who buy $500k voucher. They will sell it at discount price maybe selling 50~80% of the actual. Many will buy it.
Who fault is that if happen to the person use it? Can claim or not. NTUC should take the blame. Accept all voucher issue by them.

 

[Unrepented]

Agreed.

Prior to the incident, to my little knowledge, there is no restriction on the sales of NTUC vouchers to third parties if one needs to encash. And third party can still use the NTUC vouchers purchased from the an individual, at any outlet.

There may be innocent parties who are holding the vouchers. The supermarket should give the voucher holders the benefit of doubt and honor them.

The supermarket's internal controls and administration failed, they should not make others pay for their mistakes by voiding all the vouchers.

Counter will not have $500k voucher. This is management mistake.
Very smart for the person who buy $500k voucher. They will sell it at discount price maybe selling 50~80% of the actual. Many will buy it.
Who fault is that if happen to the person use it? Can claim or not. NTUC should take the blame. Accept all voucher issue by them.