S. Gandaruban, 60, fled to Sri Lanka over 20 years ago to escape creditors and was reportedly 'killed' in a shoot-out between the Tamil Tigers and the authorities.
Following his 'death', claims totalling $331,000 were paid out by three insurers.
He was arrested in October last year at Changi Airport for trying to enter Singapore with a fake passport.
The brother
Mr S. Moganaruban, 57, Gandaruban's younger brother, is said to have collected the insurance payout.
He was convicted in January 2005 and sentenced to 16 months' jail.
On appeal, the prison term was increased to 26 months.
The wife
Madam Renuga Devi Sinnaduray, 51, then Gandaruban's wife, declared before a Commissioner of Oaths that her husband had died without a will.
She deposited part of the insurance money into her account but later transferred it to a joint account in her and Mr Moganaruban's name.
She pleaded guilty and was jailed for 12 months in January 2004.
She divorced Gandaruban two years later. They have four children.
The whistle-blower
Mr V.R. Yogendran, 55, was the former lawyer who handled Gandaruban's estate at that time.
He exposed the scam in 2003 when he realised Madam Renuga had given birth to her fourth child in 1996.