Former M1 account manager gets 6 years' jail for embezzling

[Ithunk]

guess parts of the 2million were recovered as he came clean, also from the sale and recovery of the porsche GT3

 

An M1 account manager was jailed six years in total for criminal breach of trust and money laundering.

 

Matthew Yeo Kay Keng, 35, had siphoned $2 million in two years from the telco by selling stolen phones to third parties.

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Between 2008 and 2010, Mr Yeo misappropriated 3,085 handsets. He created subscription contracts for mobile services supposedly for corporate customers. He then sold off the handsets at close to retail prices to resellers after pretending he would personally deliver the phones to customers.

 

M1 discovered the offenses during an internal reorganisation.

 

Mr Yeo is also said to have told M1 that he also spent the money on a Patek Philippe watch worth $50,000, three Rolex watches worth $8,000 each, and four Audemars Piguet watches worth between $15,000 and $30,000 each.

 

He also bought Porsches and even invested $300,000 in a science-fiction movie project.

 

http://news.asiaone.com/News/AsiaOne%2BNew...028-307465.html

[Expertz]

i'll be the first to say this, this m1 guy will receive a harsher sentence than the SLA guy!

[Ender]

He got it off quite lightly.. 6 years is not too bad, at least come out still a middle age guy..Lucky his amount is not as scary as the SIA and Asian Brewery guy, else he may be release as a grandfather.

[Mllcg]

then the missing money take back by M1?

 

or he get to keep?

[Good-Carbuyer]

He got it off quite lightly.. 6 years is not too bad, at least come out still a middle age guy..Lucky his amount is not as scary as the SIA and Asian Brewery guy, else he may be release as a grandfather.

I believe these millionaire-jailbirds respected in jail for hot tips.

[Ngck]

i'll be the first to say this, this m1 guy will receive a harsher sentence than the SLA guy!

 

 

no way... the SLA group malu the whole civil service... they will not let him off....

unless he is well connected... like direct descendent of some really big shot