Singapore Man Heads to Jail for Using Late Brother's Money to Gamble & More News Here

Posted on: May 9, 2022, 05:48h. 

Last up to date on: May 9, 2022, 05:48h.

A Singapore man was put accountable for managing his late brother’s property. Instead, he used it to gamble and make investments, and can now spend time in jail for the theft.

Tan Siong Choon’s brother, Ten Seng Kiam, died a decade in the past in a site visitors accident. The Singapore man grew to become the trustee of his brother’s property after his niece determined that he could be higher ready to handle the cash and property. She later discovered that the choice was a particularly expensive one.

In 2020, she took her uncle to court docket after she realized that he siphoned over S$550,000 (US$395,120). He spent the cash playing and buying shares, however will now pay the value for his actions. The 62-year-old man is heading to jail for 4 years, in accordance to media outlet Today.

A Grave Mistake

Tan labored out a plea deal, admitting to one depend of felony breach of belief. This saved him from receiving an extended sentence however, at 66 when he returns to freedom, choosing up the items will probably be identical to a further sentence.

Discussing the dying and Ten’s property, Tan defined to his niece that somebody had to be accountable for the property. He offered two choices – they might administer it collectively or he might handle all of it himself. His niece took the ill-fated resolution to give Tan management.

Everything began out proper. Tan opened a brand new checking account within the property’s identify, from which he drew funds to pay for the funeral and canopy different associated bills. However, issues modified shortly after.

Only a number of months later, he opened a brand new checking account in his identify and started transferring funds into it. Records confirmed that he withdrew S$150,000 (US$107,835) that he then spent playing. He additionally bought his late brother’s automotive, changing the $23,500 (US$16,894) in proceeds into playing funds.

The misappropriation of cash continued for over two years. Where as soon as was a checking account holding important financial property, there was simply S$3,100 (US$2,228) in late 2019.

Uncovering the Theft

Tan’s daughter found the theft in 2019 and approached her uncle. He admitted to what he had completed and, the next yr, she filed a police report in opposition to him. He by no means provided to make restitution and by no means tried to repay any of the cash.

Tan’s niece, a 27-year-old housewife when her father died, might have put the funds to good use. The egregious abuse of belief and lack of respect on the a part of her uncle, nonetheless, worn out any likelihood of getting a simple retirement later in life.

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