Ithunk 1st Gear October 8, 2011 Share October 8, 2011 15 years in prison a person can do anything to make money but do it legally and smartly SINGAPORE - For more than two years, he pocketed some S$2 million by selling mobile phones stolen from his employer and used the proceeds to live the high life, buying Porsche sports cars, luxury watches and home theatre systems, all so to project "a veneer of seeming success", his lawyer claimed. Yesterday, Matthew Yeo Kay Keng, 39, a former M1 corporate sales account manager, pleaded guilty to two charges of criminal breach of trust and seven charges under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA). Twenty-three other charges would be taken into consideration during sentencing. Since April 2008, he would create false subscription contracts for mobile services purportedly made by corporate customers to obtain free or subsidised handsets, a district court heard. Before these could be sent by couriers, Yeo would intercept them with the lie that he would personally deliver them. He would then destroy the fake contracts. In all, Yeo pilfered 3,085 mobile phones of brands, like Blackberry, iPhone and HTC, this way. With the ill-gotten gains, Yeo went on a shopping spree, splurging on watches from brand-name makers like Audemars Piguet, IWC and Rolex, with price tags of up to S$60,000. He also bought a S$170,000 used Porsche 911 Coupe Tip, which he later traded in for a S$200,000 Porsche 911 Turbo Cabriolet Triptronic, and invested in 40 Crossback Arowanas for a S$10,000 profit within three months. Yeo even dreamt of fame, pumping S$300,000 into a movie project called Metalgraves. "He also thought he could become famous in Hollywood if the project succeeded," said Deputy Public Prosecutor Seow Zhixiang. Yeo's ruse was finally uncovered during an internal reorganisation in November last year. In mitigation, Yeo's lawyer Manoj Nandwani said his client had confessed as soon as he was caught by his employers. He added that the father of two children, aged five and one, had rendered full cooperation in helping the authorities recover largely all the ill-gotten items he had bought. At the mention of his family, the short, stocky man broke down, pulling his white prison garb to wipe off tears from his face. Yeo will next appear in court on Oct 21. He faces up to 15 years' imprisonment and fine for each criminal breach of trust offence. For each of the CDSA offences, he can be fined up to S$500,000 and/or jailed up to seven years. Teo Xuanwei http://www.todayonline.com/Singapore/EDC11...to-buy-luxuries ↡ Advertisement Link to post Share on other sites More sharing options...
Achtung 6th Gear October 8, 2011 Share October 8, 2011 Wu Facebook Account bo? Maybe can see pics 15 years in prison a person can do anything to make money but do it legally and smartly SINGAPORE - For more than two years, he pocketed some S$2 million by selling mobile phones stolen from his employer and used the proceeds to live the high life, buying Porsche sports cars, luxury watches and home theatre systems, all so to project "a veneer of seeming success", his lawyer claimed. Yesterday, Matthew Yeo Kay Keng, 39, a former M1 corporate sales account manager, pleaded guilty to two charges of criminal breach of trust and seven charges under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA). Twenty-three other charges would be taken into consideration during sentencing. Since April 2008, he would create false subscription contracts for mobile services purportedly made by corporate customers to obtain free or subsidised handsets, a district court heard. Before these could be sent by couriers, Yeo would intercept them with the lie that he would personally deliver them. He would then destroy the fake contracts. In all, Yeo pilfered 3,085 mobile phones of brands, like Blackberry, iPhone and HTC, this way. With the ill-gotten gains, Yeo went on a shopping spree, splurging on watches from brand-name makers like Audemars Piguet, IWC and Rolex, with price tags of up to S$60,000. He also bought a S$170,000 used Porsche 911 Coupe Tip, which he later traded in for a S$200,000 Porsche 911 Turbo Cabriolet Triptronic, and invested in 40 Crossback Arowanas for a S$10,000 profit within three months. Yeo even dreamt of fame, pumping S$300,000 into a movie project called Metalgraves. "He also thought he could become famous in Hollywood if the project succeeded," said Deputy Public Prosecutor Seow Zhixiang. Yeo's ruse was finally uncovered during an internal reorganisation in November last year. In mitigation, Yeo's lawyer Manoj Nandwani said his client had confessed as soon as he was caught by his employers. He added that the father of two children, aged five and one, had rendered full cooperation in helping the authorities recover largely all the ill-gotten items he had bought. At the mention of his family, the short, stocky man broke down, pulling his white prison garb to wipe off tears from his face. Yeo will next appear in court on Oct 21. He faces up to 15 years' imprisonment and fine for each criminal breach of trust offence. For each of the CDSA offences, he can be fined up to S$500,000 and/or jailed up to seven years. Teo Xuanwei http://www.todayonline.com/Singapore/EDC11...to-buy-luxuries Link to post Share on other sites More sharing options...
Angelvine Clutched October 8, 2011 Share October 8, 2011 this type will not be 15 yr lah... think max 1-2yr... and still very good life in there one... since everyone inside know u got money... Link to post Share on other sites More sharing options...
SimonTan 2nd Gear October 8, 2011 Share October 8, 2011 He does not know how to stop. Those smart one knows when to stop, and never got caught. Stupid....buy fish for fark. Drive Porsche to work...sure got green eyes. Wear nice watch also show off. I rather he used it to buy a properties for him mum and wife. Or buy life insurance in one lump sum....at least after 15years in jail....come out can swee swee collect the tern insurance payout and enjoy life. Link to post Share on other sites More sharing options...
Mllcg 3rd Gear October 8, 2011 Share October 8, 2011 this type will not be 15 yr lah... think max 1-2yr... and still very good life in there one... since everyone inside know u got money... his money give back to M1 le. Link to post Share on other sites More sharing options...
Celicar Turbocharged October 8, 2011 Share October 8, 2011 Those in charge of internal controls Link to post Share on other sites More sharing options...
5936 1st Gear October 8, 2011 Share October 8, 2011 Stupid fellow and shallow minded. Link to post Share on other sites More sharing options...
Ithunk 1st Gear October 8, 2011 Author Share October 8, 2011 (edited) He does not know how to stop. Those smart one knows when to stop, and never got caught. Stupid....buy fish for fark. Drive Porsche to work...sure got green eyes. Wear nice watch also show off. I rather he used it to buy a properties for him mum and wife. Or buy life insurance in one lump sum....at least after 15years in jail....come out can swee swee collect the tern insurance payout and enjoy life. for his crime of CBT its definitely 15 years or more... and what kind of vehicle he drives to work does not really matter....he can even drive a ferrari to work but he got his money thru illegal means whether the money is returned to M1 im not sure....but the law in singapore is strict....and the government will do all means to maintain law and order in sg Edited October 8, 2011 by Ithunk Link to post Share on other sites More sharing options...
Ithunk 1st Gear October 8, 2011 Author Share October 8, 2011 Wu Facebook Account bo? Maybe can see pics dun have maybe can check his name Link to post Share on other sites More sharing options...
Ithunk 1st Gear October 8, 2011 Author Share October 8, 2011 (edited) Those in charge of internal controls maybe there was a manager above his...but i dun think there will be so much of internal control since he has been working long in the company so a certain level of trust is given to him and due to his experience.... anyway this is blatant corporate crime give a corporate sales account manager the market rate...and the rest will be commission... but yeah hes committed a crime so he will have to do time in jail about 10 to 15 years Edited October 8, 2011 by Ithunk Link to post Share on other sites More sharing options...
Ngck 3rd Gear October 8, 2011 Share October 8, 2011 alot of account manager balls shrink when his news is out.... so many sales manager doing underhand stuff Link to post Share on other sites More sharing options...
Jamesc Hypersonic October 8, 2011 Share October 8, 2011 Those in charge of internal controls They will all be promoted. Cos now they have experience with big time CBT. How many audit staff in Spore have that kind of experience? Link to post Share on other sites More sharing options...
Prodiguy02 Neutral Newbie October 9, 2011 Share October 9, 2011 alot of account manager balls shrink when his news is out.... so many sales manager doing underhand stuff Ah haha! Link to post Share on other sites More sharing options...
5936 1st Gear October 9, 2011 Share October 9, 2011 Like the old chinese saying "Old ginger is hotter" Link to post Share on other sites More sharing options...
5936 1st Gear October 9, 2011 Share October 9, 2011 (edited) Is M1 short of cash? some big companies or MNCs will deal these matter internally. Reputation is more than $2m and takes a long time to establish. Edited October 9, 2011 by 5936 Link to post Share on other sites More sharing options...
Ngck 3rd Gear October 9, 2011 Share October 9, 2011 Is M1 short of cash? some big companies or MNCs will deal these matter internally. Reputation is more than $2m and takes a long time to establish. 2mil is alot to any company.... unless you talking about major banks Link to post Share on other sites More sharing options...
Mllcg 3rd Gear October 9, 2011 Share October 9, 2011 2mil is alot to any company.... unless you talking about major banks not any company. big companies can cushion the 2m. the small and medium comanies will suffer. Link to post Share on other sites More sharing options...
Jpcc Clutched October 10, 2011 Share October 10, 2011 A learned ah pek once told me: when a society does not treasure morals and only worships money. This is what a peasant strive for, bling bling and instant gratification. ↡ Advertisement Link to post Share on other sites More sharing options...
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