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Jail for man who misappropriated $404k, gambled and lost over $800k
The Straits Times
|February 20, 2025
Court Correspondent
The sole director of a firm dealing with automotive lubricants misappropriated $404,000, used his ill-gotten gains to gamble and lost more than $800,000.
Hendra Lim Yew Keng, 51, who is no longer a director at Exlube, was sentenced to two years and 10 months' jail on Feb 19 after he pleaded guilty to one count of criminal breach of trust.
The Singaporean has declared bankruptcy and has not made restitution.
Deputy Public Prosecutor David Koh said that Lim set up Exlube in September 2016.
Around April 2017, he received a large order for petroleum products from China-based firm Xiamen Yuan Yi Trade Co.
Lim, who did not have enough funds, approached the director of another firm called Eng Soon Auto and asked if the company was willing to finance more than $504,000 towards the order.
Dit verhaal komt uit de February 20, 2025-editie van The Straits Times.
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