Woman worker at fintech firm jailed for cheating linked to $5.7m of mostly crypto

By making amendments on Microsoft Excel files used for payrolls, a woman working at a fintech company committed cheating linked to more than $5.7 million, mostly relating to cryptocurrency.

- Shaffiq Alkhatib

On Feb 20, Ho Kai Xin, 32, was sentenced to nine years and 11 months' jail after she pleaded guilty to five cheating charges, eight counts of dealing with the benefits of criminal conduct, and one count of giving false information to a public servant.

Thirty other charges were considered during her sentencing.

In January, the Singaporean was given six weeks' jail for contempt of court after spending the ill-gotten funds despite being ordered not to do so.

Ho will start serving her longer sentence after completing her earlier one.

The prosecution said she had used her ill-gotten gains to live a lavish lifestyle, including placing a down payment of nearly $750,000 for a penthouse in Gilstead Road near Dunearn Road worth more than $3.7 million.

She also bought sunglasses, bags, shoes, shirts and rings from luxury brand Louis Vuitton, each costing thousands of dollars, Deputy Public Prosecutor Jeremy Bin told the court.

DPPs Bin and Ariel Tan stated in court documents that from Oct 20, 2021, to Oct 6, 2022, Ho worked as a payroll processing staff member at Wechain Fintech Singapore.