Man jailed 5 years for $2.5 million study loan scam

[General Veers]

Man jailed 5 years for $2.5 million study loan scam

Published on Feb 16, 2012

Between 2006 and 2009, Go Boon Chai, 38, went on to cheat three banks of a total of $2.5 million. The former education agent was jailed five years for cheating. He had pleaded guilty two weeks ago. -- PHOTO: SINGAPORE POLICE FORCE

By Khushwant Singh

He went to take up a business management course at Brookes Business School but learnt how to obtain fraudulent study loans. Between 2006 and 2009, Go Boon Chai, 38, went on to cheat three banks of a total of $2.5 million.

It was payback time on Thursday. The former education agent was jailed five years for cheating. He had pleaded guilty two weeks ago.

A district court then heard that sometime before November 2006, the advertising assistant went to sign up for a business management course at Brookes.

Go asked to pay the fees in instalments and the school's principal then, Benny Yap Chee Mun, 41, is said to have suggested he apply for a study loan instead.

Court documents also state that Yap provided him with documents that inflated his course fees.

Go applied for two $20,500 study loans and was able to get $12,000 from RHB Bank and $15,500 from Citibank.

These were paid to Brookes. Yap kept $9,000 and gave $18,500 to Go. It is not known if there was any payment of course fees.

Read the full story in Friday's edition of The Straits Times.
​

 

[hokkien]

Like that i also want to study le

 

[Watto]

Ex-principal of defunct private school found guilty of cheating banks of S$1.4m

By Leong Wai Kit
POSTED: 18 Apr 2013 7:43 PM

Yap Chee Mun, ex-principal of the defunct Brookes Business School, was found guilty on Thursday of cheating banks of about S$1.4 million.

SINGAPORE The ex-principal of the defunct Brookes Business School was found guilty on Thursday of cheating banks of about S$1.4 million.

Yap Chee Mun, 43, was also found guilty of helping Go Boon Chai, a former education agent, in a scheme which involved using fake offer letters to apply for bank loans.

The fake offer letters said "students" had been accepted to read courses at Brookes Business School.

Go was given five years' jail in February last year.

The verdict comes after an 18-day trial held between June 2012 and January this year.

During the trial, Yap claimed he was not involved in the scheme to cheat the banks.

The offences occurred between 2006 and 2008.

In July 2009, the Ministry of Education cancelled Brookes Business School's registration.

In his judgement on Thursday, District Judge John Ng said that while Go was the "protagonist" of the scheme, Yap was "not a mere pawn being manipulated by Go".

He added that Yap was a "willing and necessary part" in the cheating plan carried out by Go.

Go had planned to rope in people to apply for student loans from banks.

Yap, Go and the "students" would then each get a cut of the disbursed loan.

Judge Ng pointed out that Yap's role in the scam was crucial as the school had generated letters of offer and acceptance.

Yap will be sentenced on May 9.

- CNA/jc

 

[sixniner]

Does anyone here know what he was sentenced to? Is that mug-shot even him?