SINGAPORE: A 53-year-old man was charged in court on Thursday (Dec 30) for allegedly abetting a former company director to cheat several banks.
Simon Peter Sim was charged with five counts of cheating, for allegedly abetting Russian national Koryagin Vadim to cheat DBS, OCBC and Maybank Singapore between June 2014 and July 2016.
Vadim, the former director of MEA Business Solutions, was on Sep 8 sentenced to four weeks’ jail for conspiring with several individuals to cheat multiple banks by making false declarations about the beneficial owners of several firms.
Vadim has appealed against his conviction and sentence.
According to a news release from the Corrupt Practices Investigation Bureau (CPIB), Sim in May 2016 allegedly abetted Vadim to cheat DBS into believing that a certain company had no nominee shareholder.
This resulted in DBS opening a bank account for this company without information on the nominee shareholder, which was likely to cause harm to the bank’s reputation, said CPIB.
Additionally, between June 2014 and July 2016, Sim allegedly abetted Vadim to cheat DBS, OCBC and Maybank Singapore by concealing information on the ownership of three companies, said CPIB.
Any person who is convicted of a cheating offence faces up to three years’ jail, a fine, or both.
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Simon Peter Sim was charged with five counts of cheating, for allegedly abetting Russian national Koryagin Vadim to cheat DBS, OCBC and Maybank Singapore between June 2014 and July 2016.
Vadim, the former director of MEA Business Solutions, was on Sep 8 sentenced to four weeks’ jail for conspiring with several individuals to cheat multiple banks by making false declarations about the beneficial owners of several firms.
Vadim has appealed against his conviction and sentence.
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According to a news release from the Corrupt Practices Investigation Bureau (CPIB), Sim in May 2016 allegedly abetted Vadim to cheat DBS into believing that a certain company had no nominee shareholder.
This resulted in DBS opening a bank account for this company without information on the nominee shareholder, which was likely to cause harm to the bank’s reputation, said CPIB.
Additionally, between June 2014 and July 2016, Sim allegedly abetted Vadim to cheat DBS, OCBC and Maybank Singapore by concealing information on the ownership of three companies, said CPIB.
Any person who is convicted of a cheating offence faces up to three years’ jail, a fine, or both.
Continue reading...