Account manager allegedly misappropriates $1.74 million
An account manager from BSA Transportation had allegedly been misappropriating more than $1.74 million of company funds since 2012 and signing off on more than 70 cheques without his employer's approval.
Chow Pak Thong, 65, was charged yesterday with eight counts of criminal breach of trust as a servant and eight counts of falsification of accounts.
He is alleged to have signed the cheques and encashed them, dishonestly converting them for his own use.
According to court documents, Chow also allegedly falsified payment vouchers from the shipping company to various parties.
It was not revealed who these parties were.
CRIMINAL INTIMIDATION
Chow also faces one charge of criminal intimidation, for allegedly threatening the agency manager in the company office in Anson Road on July 3 using a fruit knife.
A day later, Chow was reported to the police for purportedly misappropriating monies belonging to the company.
In a news release on Tuesday, the police said he was arrested on Monday after preliminary investigations revealed he had signed the cheques without the employer's approval.
He has been offered bail of $50,000 and is expected to be back in court on Nov 13.
If convicted of criminal breach of trust as a servant, he can be jailed for up to 15 years and fined, for each charge.
If convicted of falsification of accounts, he can be jailed for up to 10 years and fined, for each charge. - DAVID SUN
Get The New Paper on your phone with the free TNP app. Download from the Apple App Store or Google Play Store now
