SINGAPORE: Three people were charged on Tuesday (Feb 21) over an alleged conspiracy to cheat six financial institutions of about S$16 million by making fraudulent loan applications. The trio - aged between 44 and 48 - were accused of making 18 such applications. Between March and August in
SINGAPORE: Three people were charged on Tuesday over an alleged conspiracy to cheat six financial institutions of about S$16 million by making fraudulent loan applications.Between March and August in 2018, Choy Weng Keen Adrian, Foong Chong Hung and Woo Wai Hoong Samuel allegedly cheated the financial institutions into opening credit facilities or providing loan disbursements for eight people, police said in a news release on Tuesday.
This was done by submitting Notices of Assessment that contained inflated annual incomes for these people, said police. Those convicted of the offence face a jail term of up to 10 years and a fine. The three accused also allegedly conspired to submit 27 false statutory declarations made by 14 people to the Inland Revenue Authority of Singapore.For giving false information to a public servant"with intent to use his lawful power to the injury of another person", an offender may be jailed up to a year, fined up to S$5,000, or both.
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