SINGAPORE: A Singaporean man and his spouse have been arrested in Malaysia on Tuesday (December 3) in reference to a fraud case involving over $51 million after being on the run for 19 years.
Ng Teck Lee, the then CEO of electronics recycling agency Citiraya Industries, and his spouse, Thor Chwee Hwa, have been handed over to the Corrupt Practices Investigation Bureau (CPIB) by the Malaysian Anti-Corruption Commission (MACC) on the identical day.
In a press launch on Wednesday, the CPIB mentioned Ng, 58, had left Singapore in 2005 with Thor, 55, when the investigation started.
“The authorities have made varied efforts to find Ng in reference to the CPIB investigations,” he added, noting {that a} prohibited immigration record and a police gazette had been issued, in addition to Interpol purple notices and arrest warrants.
Ng might be arraigned in court docket on Wednesday. He is charged with felony breach of belief and is accused of misappropriating digital scrap from varied firms that have been entrusted to him for private use.
Thor, who can even be charged the identical day, is going through prices of helping one other to retain advantages from felony conduct.
She allegedly organized along with her husband to open an account on the Credit Suisse Hong Kong department in his title, figuring out that the account could be used to withhold advantages ensuing from his suspected felony conduct.
CPIB Director of Investigations Vincent Lim mentioned: “The profitable arrest of the 2 Singaporean fugitives concerned on this important corruption case after almost twenty years attests to the long-standing ties and shut cooperation between CPIB and MACC.”
“There is zero tolerance and no protected haven for individuals who select to interrupt our legal guidelines by partaking in corrupt or felony exercise.”
Lim added that the CPIB will spare no effort to trace down the fugitives wherever they cover and convey them to justice in Singapore, and that investigations are ongoing.
CITIRAYA CASES
In a High Court ruling handed down in 2011, Citiraya was concerned within the enterprise of recycling and recovering valuable metals from digital scrap.
According to an affidavit filed by a CPIB official in 2008, Ng was entrusted with digital scrap despatched to Citiraya by its prospects for destruction.
However, Ng, with the assistance of his brother, who was Citiraya’s normal supervisor, in 2003 and 2004 allegedly he misappropriated a number of the digital scrap that had been despatched for destruction by chip producers.
Some wrecks, nonetheless, have been repackaged and bought to consumers in Hong Kong and Taiwan for about $51.2 million, with the cash transferred to 3 financial institution accounts in Hong Kong.
A court docket order was issued in 2011 to grab a few of Ng’s belongings, together with cash in his First Commercial Bank accounts, in addition to bungalows in Binjai Park and Paya Lebar Crescent that have been collectively owned by the couple.
