Ex-mDR group COO Richard Siua charged with criminal breach of trust

RICHARD Siua, the former group chief operating officer of mainboard-listed mDR, along with Peter Ng, who was a sales director of the company’s subsidiary, were charged with criminal breach of trust offences on Tuesday (Dec 31

A police statement said that between November 2020 and December 2021, Siua allegedly misappropriated 4,057 mobile devices and accessories valued at more than S$2.5 million, which was entrusted to him in his capacity as chief executive officer of two mDR subsidiaries.

Siua faces five charges under Section 409 of the Penal Code for allegedly committing criminal breach of trust as a key executive of a corporation, of which three are amalgamated charges.

The employment of the former group COO was terminated on Dec 23, 2021, after investigations by mDR and the police.

Tan Yeow Kian, the sole director and shareholder of Next Telecom, a Singapore-incorporated telecommunications company, was charged with one amalgamated charge under Section 47 of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) (CDSA).

He allegedly possessed 3,974 mobile devices and accessories from Siua between January and December 2021, when he had reasonable grounds to believe that these properties represented Siua’s benefits from criminal conduct.

The value of the mobile devices and accessories possessed by Tan stood at more than S$2.4 million.

As for Ng, between January 2019 and December 2021, he allegedly misappropriated 155 mobile devices and accessories valued at S$200,560 in total, which he was entrusted with in his capacity as sales director of mDR’s subsidiary. He faces three amalgamated charges under Section 408 of the Penal Code for allegedly committing criminal breach of trust as an employee.

If convicted, an individual faces an imprisonment term of up to 20 years, and a fine, for each charge under Section 409 of the Penal Code; an imprisonment term of up to 15 years, and a fine, for each charge under Section 408 of the Penal Code; and an imprisonment term of up to 10 years, a fine not exceeding S$500,000, or both, for each charge under Section 47 of the CDSA.

SEE ALSO

mDR fires COO Richard Siau amid investigations into suspected misconduct

2 mDR senior executives misappropriate S$2.08m

An individual convicted on an amalgamated charge may be sentenced to up to two times of the maximum punishment for the offence.

Shares of mDR were trading flat at S$0.039 as at 11.23 am on Tuesday.