SINGAPORE - A man who worked for Chubb Insurance Singapore has been charged with multiple counts of cheating for allegedly duping the company into paying out over $8.9 million in false claims.
Suyandi, who goes by one name, is said to have deceived the company into processing close to 300 false claims over a seven-year period, with the monies deposited to third-party bank accounts.
He has also been accused of cheating the insurance company into effecting payments of more than $1.6 million to third-party bank accounts, by purportedly creating fraudulent e-mails on 58 occasions between July 2010 and August 2016.
The 45-year-old Singapore permanent resident was on Thursday hit with 22 charges, including seven for cheating and eight for forgery for the purpose of cheating.
He is also facing four charges of falsification of accounts and three for acquiring the benefits of criminal conduct.
According to court documents, Suyandi had deceived Chubb Insurance Singapore, which was previously known as Ace Insurance, into processing 297 false claim payments of more than $8.9m to third-party bank accounts from May 2010 to September 2017.
In a statement on Wednesday, police said that investigations showed that about $55,600 were allegedly laundered from the third-party bank accounts to Suyandi’s personal bank accounts.
Get a round-up of the top stories to start your day
By signing up, you agree to our Privacy Policy and T&Cs.
In court on Thursday, Suyandi, who no longer...
Police have launched an investigation into alleged false accusation by Park Cheol-min, a former member of the Seongnam International Mafia. Park, ahead of the 2022 presidential election, raised al...