SINGAPORE: A property agent entrusted with money from a client for the purchase of a condominium unit pocketed about S$132,800 of it, using most of it to renovate his own home.
For one charge of criminal breach of trust as an agent by dishonest misappropriation, 38-year-old Lim Yi Han was sentenced to two years' jail on Wednesday (Jan 29).
AdvertisementAdvertisementThe court heard that Lim was a property agent at Huttons Asia, and was authorised to collect fees from third parties on behalf of the company.
He had to ensure that the fees were made out in cheques to the company, and he was to hand over the cheques to his firm once he received them.
The victim decided to buy property in Singapore in 2015, and engaged Lim as her property agent after knowing about him through a relative.
After viewing some units and discussing with Lim, the Australian woman signed an option on Jun 9, 2015, to buy a condominium unit.
AdvertisementAdvertisementThe purchase price of the property was S$765,558, said Deputy Public Prosecutor Mansoor Amir.
Between July 2015 and February 2016, the victim transferred a total of S$327,430.60 to Lim's personal Standard Chartered bank account.
These were sums between about S$3,200 and S$55,000 over 13 occasions, and were for fees such as partial stamp fees, conveyancing fee, and balances of the purchase price.
LIM SPENT S$132,800 OF TOTAL GIVEN BY CLIENT
Of the sum of S$327.430.60, Lim issued two cheques to the developer, one for about S$114,800 in August 2015, and another for about S$76,600 in February 2016.
He also paid a S$3,277 conveyancing fee to a law firm.
However, Lim used the remaining S$132,814.02, spending S$82,945 on renovating his own home, and the rest on home furnishings like furniture and air-conditioning.
Because he had used the victim's money for his own purposes, Lim defaulted on some payments under the Sales and Purchase Agreement of the property, and the developer forfeited the property.
The developer also forfeited S$153,111.60 of the sum that the victim had paid so far and charged her a late payment penalty of S$4,179.52.
Lim, who pleaded guilty to the charge, made voluntary compensation of A$18,000 (S$16,552) to the victim.
The victim lodged a police report in August 2018, saying Lim had misappropriated money she paid him.
Lim, who was unrepresented, said he was remorseful for what he had done.
"Sorry to my wife," he said. "She just had an operation. Now she has to take care of two young kids by herself, so I hope your honour will be lenient."
For criminal breach of trust as an agent, he could have been jailed for up to 20 years and fined.
CNA has contacted Huttons Asia for more information.
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