SINGAPORE - A former bank relationship manager who cheated the daughter of late banker-philanthropist Khoo Teck Puat out of $2 million was jailed for six years yesterday.
While working for Deutsche Bank, Bernard Lim Seng Soon, 39, persuaded 79-year-old Madam Khoo Bee See to take out a short-term loan to fund an investment product - but this was a fake and the $2 million was paid into his wife's account.
He pleaded guilty to six of 18 charges including transferring and converting his ill-gotten benefits to buy shares and pay off gambling debts and other loans.
Lim has paid back the money to Madam Khoo - whose father was once the wealthiest man in Singapore.
In one charge taken into consideration, Lim also cheated Madam Khoo's sister, Bee Leng, out of $2 million in 2011. He has also paid her back the money.
Deputy Public Prosecutor Muhamad Imaduddien Abdul Karim said Lim worked for Deutsche Bank from April 2010 to October 2011, while his wife, Ms Jaime Ho Ai Lin, 36, was a private banking officer with RBS Coutts & Co and had a staff account in Hong Kong.
Mr Muhamad Imaduddien said that for all communications on details of new investment products for Madam Khoo Bee See, Lim would contact one Rosie Cheong, who would relay the message to Madam Khoo.