SINGAPORE - The managing director of an electronics manufacturing company allegedly cheated five banks of more than $10 million between 2007 and 2011, a district court heard on Friday .
However, So used to be a director at several firms including Executive Computer, Dinu Construction and Executive Office Automation. Police said in a statement on Friday that So had allegedly instructed for the invoices of SPE Technology's supplier to be submitted to the five banks to support his company's requests to use their credit facilities.
"The prosecution is alleging that there were in fact no such transactions between the two companies."
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