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Former VP sentenced to 14 years jail for money laundering and cheating: CPIB
LINDA Lee, a former vice-president (Asset Management) of United Engineers Developments, a unit of United Engineers (UEL), has been sentenced on Friday to 14 years' imprisonment for money laundering and cheating offences, the Corrupt Practices Investigation Bureau (CPIB) said.
Investigations by CPIB revealed that Lee had colluded with several individuals to provide fictitious quotes to UEL for maintenance works. These works were never carried out. Linda Lee had used her position in the company to request, and then certify and award these fictitious works to several companies, one of which belonged to her. When payment for the jobs had been made by UEL, Lee would either keep the proceeds or split the money with her conspirators. In total, Linda Lee had obtained about S$4,977,400 from this illicit scheme of creating fictitious job requests and quotations.
Ng Shu Jun, Tan Aik Gee, Tan Kiam Boon and Wong Weng Kong have also been charged and their cases are currently before the Court.
Criminal proceeds derived were subsequently invested by Lee in four properties in Singapore and two private properties in Batam, Indonesia. These were also used to purchase luxury items such as branded watches and handbags, jewellery among other things.
Following CPIB's investigations, several bank accounts, insurance policies and over 500 luxury items and branded apparels with an approximate worth of S$900,000 were seized. Of the total sums seized, about S$885,000 have been released to UEL.
CPIB says it takes a serious view of any corrupt practices and will not hesitate to take action against any party involved in such acts.