Man jailed for $2m scam on banker's daughter

SINGAPORE - A former relationship manager was jailed for six years yesterday for cheating the daughter of the late banker-philanthropist Khoo Teck Puat of $2 million.

Bernard Lim Seng Soon, 39, was working in Deutsche Bank in 2010 and 2011 when he cheated Madam Khoo Bee See, 79, of the money in September 2010.

He had pleaded guilty to cheating her, as well as five offences under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.

Lim, who faced 18 charges, has made full restitution of the amount.

Deputy Public Prosecutor Muhammad Imaduddien said that Madam Khoo had been Lim's client since he worked at DBS Bank in 2007.

Lim would contact a Ms Rosie Cheong for all communication on details of new investment products for Madam Khoo. Ms Cheong would then relay the messages to Madam Khoo.

On Sept 24, 2010, Lim spoke to Ms Cheong and proposed an investment product which did not exist. He arranged for a short-term loan with the bank for Madam Khoo's investment in the fake product.

Three days later, when he talked to Madam Khoo about the loan, he did not tell her the truth - that the funds would actually be disbursed to his wife Jamie Ho Ai Lin through her RBS Coutts Bank's staff account in Hong Kong and eventually used for his personal gain. Ms Ho was then working as a private banking officer.

Madam Khoo agreed to take up the loan. A cashier's order was credited into Ms Ho's staff account on Sept 29 that year. Lim then used the money to buy shares and to pay off gambling debts and other loans. He also transferred some of the money to his personal account.

Among the 12 charges taken into consideration was a charge of cheating Madam Khoo's sister, Madam Khoo Bee Leng, of $2 million. This was paid back to her a day later on Sept 30, 2011.

This article by The Straits Times was published in MyPaper, a free, bilingual newspaper published by Singapore Press Holdings.

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