Man jailed for cheating former colleague of $4 million | The New Paper

Man jailed for cheating former colleague of $4 million

This article is more than 12 months old

A man cheated his former colleague of almost $4 million by getting him to put money into a so-called investment scheme with guaranteed returns.

To support his lies, Cheong Eh Meng forged documents from places such as Singapore's Supreme and Subordinate courts before handing them to Mr Eddy Tan Huck Shoon, 65.

Mr Tan lost all his life savings to the scam, the court heard. He also has to continue working to pay off his debts as he had taken loans to obtain cash which he handed to Cheong.

Cheong, 55, was sentenced to nine years' jail yesterday.

He pleaded guilty last month to 20 counts of cheating and seven forgery charges.

Deputy Public Prosecutor Chong Yonghui told the court that Cheong became an undischarged bankrupt on Oct 27, 2000. He was discharged only on May 17, 2016.

Cheong used to work with Mr Tan in a bank but they lost contact after Cheong was retrenched in 1997.

The pair reconnected in 2011.

Some time in May that year, Cheong persuaded the older man to take part in an "investment scheme" which purported to generate revenue from roulette games in various overseas casinos in Asia.

DPP Chong said: "Unknown to Tan, the accused intended to apply these sums... towards his personal expenses, including the purchase of luxury or counterfeit watches, paying off his debts, and funding his casino gambling activities."

The court heard that Cheong lied to Mr Tan that the investment scheme had earned substantial returns.

Mr Tan lodged a police report against Cheong on Aug 9, 2013.

DPP Chong told the court more than $150,000 in cash was recovered during investigations. The authorities also recovered seven watches worth about $3,000.

Cheong made no restitution for the remaining sum of about $3.8 million.