Ex-company director charged after allegedly misappropriating $3.5 million

SINGAPORE - A former company director was on Tuesday charged in court after he allegedly misappropriated more than £2 million pounds from funds entrusted to him.

He is is accused of misappropriating the money between April 2015 and September 2016. He then converted and transferred it to 14 corporate bank accounts, most of which he controlled. He also failed to maintain registers of controllers and nominee directors for Velmur Management, the company where he was a director between November 2014 and June 2019.Those convicted of forgery and criminal breach of trust can be jailed for up to four and seven years respectively, or fined, or both.

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