???????????????? CPIB and SPF jointly investigated and charged two Singaporeans, namely Tan You Jia, (?????????, F/48-years-old) and Lee Beng Yong (?????????, M/50-years-old) for 14 counts and 11 counts respectively of engaging in a conspiracy to cheat three banks in relation to the application of business loans of at least $1,728,000 between 2014 and 2015, and 5 counts each of corruptly giving gratifications totaling $10,500 to two bank officers.
2???????????? The Police commenced investigations after receiving information that forged bank statements were submitted for the business loan applications at DBS Bank Ltd, Malayan Bank Berhad (Singapore), and Standard Chartered Bank (Singapore) Ltd (the ???Banks???). Investigations revealed that Tan You Jia and Lee Beng Yong had approached individuals with little to no experience in dealing with commercial businesses to become company directors. Thereafter, they assisted the directors to apply for business loans with the Banks, ranging from $50,000 to $500,000 each, but the loans were ultimately not used for the business of the company. While the Police investigated the cheating offences, CPIB investigated into possible corruption offences against the persons involved. As CPIB???s investigation revealed that Tan You Jia and Lee Beng Yong had given bribes to two bank officers from Malayan Bank Berhad (Singapore) and Standard Chartered Bank (Singapore) Ltd totaling $10,500 for showing favour to loan applications submitted by the directors, they were charged accordingly.
3???????? ?? Singapore adopts a strict zero-tolerance approach towards corruption and other criminal activities. Any person who is convicted of corruption can be fined up to $100,000 or sentenced to imprisonment of up to 5 years or to both. Any person who is convicted of cheating and dishonestly inducing a delivery of property can be sentenced to imprisonment of up to 10 years and a fine.
The Corrupt Practices Investigation Bureau and Singapore Police Force