SINGAPORE: A 65-year-old man was arrested on Monday (Oct 14) on suspicion of falsifying his company’s accounts to cover up misappropriating more than S$1.74 million.
On Jul 4, police received a report that an account manager with a company had purportedly stolen money belonging to the firm, the Singapore Police Force said in a news release on Tuesday night.
“Preliminary investigations revealed the man had signed the company’s cheques and encashed them without his employer’s approval,” the force said.
“He also falsified the company’s accounts to cover up his misappropriation of more than S$1,740,000.”
He is set to be charged in court on Wednesday with criminal breach of trust as a servant and falsification of accounts.
If convicted of criminal breach of trust, he could face a maximum jail sentence of 15 years and a fine.
The offence of falsification carries a jail term of up to 10 years and a fine.