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Jail for Linberg Yeo Yu Wei, 27, who took over $500,000 in company funds to buy Rolex watch, Pokemon cards
Linberg Yeo Yu Wei also used the money to gamble, fund his holidays and pay credit card bills.ST PHOTO: KELVIN CHNG
Christine Tan
UPDATED JAN 22, 2025, 03:26 PM
SINGAPORE – An accounts executive siphoned off more than $500,000 from his company over two months to line his own pockets.
Linberg Yeo Yu Wei, 27, used the ill-gotten gains to buy Pokemon trading cards, an iPad and a second-hand Rolex watch.
He also used the money to gamble, fund his holidays and pay credit card bills, before he was caught.
On Jan 22, Yeo was sentenced to 19 months’ jail after he pleaded guilty to one count of cheating, with another similar charge taken into consideration for his sentencing.
The court heard that Yeo was employed by biomedical equipment supplier SPD Scientific in July 2023.
He was in charge of processing payments to vendors, through a process that required the approval of his finance manager and chief executive officer.
Yeo noticed that his CEO would approve the transfer of funds as long as he informed her that the finance manager had approved the payment vouchers and documents.
Deputy Public Prosecutor Goh Qi Shuen told the court: “As (Yeo) wanted more money to spend, he created fictitious entries in the payment requests and deceived the CEO that these were legitimate payments to vendors.”
Between August and October 2023, Yeo cheated his CEO into approving the transfer of $501,173 in company funds to two of his bank accounts.
In November 2023, the firm’s human resources manager found accounting discrepancies related to a transfer of $24,840 to Yeo’s bank account.
After being questioned, Yeo returned the money to the company the next day.
The company conducted internal investigations and the human resources manager made a police report in December 2023.
Yeo was arrested on Jan 5, 2024. At the time of arrest, he still had at least $400,000 of the cheated amount.
The Rolex watch, which was worth about $17,888, was seized from him that day.
DPP Goh asked for Yeo to be jailed for between 20 and 22 months, noting aggravating factors such as his abuse of position and trust.
In Yeo’s mitigation plea, Mr Quek Liuyong from IRB Law wrote that his client has returned all the money to the firm.
The lawyer said Yeo felt he was unfairly treated at work, but did not know how to voice his concerns or seek help due to his lack of working experience.
“Over time, (Yeo)‘s frustration grew... which contributed to his decision to commit the offence,” wrote Mr Quek, adding that his client was remorseful.
Yeo is now employed as an accounts executive in another firm and has revealed his past deeds to his current employer, who allowed him to continue working, added the lawyer.
Mr Quek asked for a jail term of between 12 and 15 months for Yeo, with the sentence to begin after Chinese New Year.
- Christine Tan is a journalist at The Straits Times reporting on crime, justice and social issues in Singapore.
