SINGAPORE: A company director was on Friday jailed 11 years for misappropriating more than S$5 million and cheating more than S$666,000 from multiple victims who ordered gold bars.
The court heard that Nguyen’s offences started in August 2018. YNK, a company dealing in gold, agreed to purchase 50 gold bars from her and transferred about S$2.5 million to Hans Global’s bank account for the purchase on Aug 30. She committed similar offences against Singapore Island Resources. Around Sep 5, 2018, the company agreed to buy 53 gold bars from Nguyen and transferred more than S$2.6 million over the following days.
She ran a similar ruse in this new company, misappropriating more than S$1.2 million from four victims who bought gold bars from her. When asked about the delay, she again gave excuses, claiming that she was wrongly supplied with many “small 1gr bars” of gold.Nguyen also cheated the director of JAJ, a company dealing with gold, and the director’s husband of more than S$666,000.
She used the money deposited by JAJ to buy 11 gold bars from the gold supplier, which she distributed to Singapore Island Resources, YNK and ORO Trading.