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Saturday, 1 March 2014

Cheating businessman gets 20 years’ jail

A BUSINESSMAN who cheated eight people in a rental scam has been sentenced to 20 months’ jail.

Lim Khee Swee, 49, also known as Ryman, admitted to three charges of cheating two victims of a total of S$110,000 (RM284,759) in 2011.

He deceived them into believing that they would get a monthly rental return of around S$6,500 (RM16,826) for six to 12 months if they invested S$30,000 to S$50,000 (RM77,662 to RM129,438) with Royal Silk Business Hub (RSBH), which was in the business of renting office space for subletting to tenants.

Assistant Public Prosecutor And­rew Low said that in 2010, Lim, a marketing director of RSBH, incurred gambling debts. He then devised a scheme to cheat existing tenants or other parties out of their money .

He did this by preparing false documents, including company letters bearing RSBH’s letterhead and stamp and the rental agreements stating the returns.

Between May 10 and July 14, 2011, he cheated eight victims out of S$213,000 (RM551,397).

A partial restitution of S$99,000 (RM256,286) had been made to some of the victims.

A shareholder of the company reported him to the police after learning that Lim was misusing the company letterhead to collect money for his own benefit.

Lim was allowed to defer his sentence until Monday to settle work matters. — The Straits Times / Asia News Network

Tags / Keywords: subs


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