Property agent jailed for forgery, embezzling $38k

Property agent jailed for forgery, embezzling $38k

A property agent misappropriated almost $38,000 in rental payments from one of his clients after forging his signature on a letter. Fong Wai Loon, 37, was jailed for a year yesterday after pleading guilty to forgery and criminal breach of trust.

He had got to know the client, Mr Rocky Bastiaan, in 2006 and, three years later, was asked by him to help rent out an apartment in Scotts Road.

Deputy Public Prosecutor Tow Chew Chi told the court that Fong agreed and managed to rent the flat to law firm Ince & Co. The tenancy agreement was signed on March 1, 2009.

Subsequently, Fong experienced financial difficulties. He decided to draft a letter directing Ince to set up a Giro payment arrangement to pay the monthly rent of $6,300 directly into his United Overseas Bank account.

He drafted the letter at his Zion Road home on April 20 that year and forged the victim's signature.

Ince was deceived into paying the rent via cheque and electronic bank transfer into Fong's account on six occasions between April 30 and Oct 1 that year. The total sum came to $37,800.

Fong would withdraw various amounts of money for his personal expenses. He spent the entire sum by Oct 31 that year.

After the forgery was discovered in 2010, Ince stopped making payments to Fong.

Mr Bastiaan made a police report on May 17, 2010.

DPP Tow said Fong had deprived the victim of $37,800 over five years.

Fong, who is making arrangements to pay back the amount, could have been jailed for up to 10 years and fined for forgery.

For criminal breach of trust, he could have been jailed for up to seven years and/or fined.

elena@sph.com.sg


This article was first published on Dec 17, 2014.
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