Former general manager jailed for conspiracy to cheat company of $4 million

SINGAPORE - A former general manager was jailed for 55 months on Thursday for conspiring with three others to cheat the company of $4 million.

Teo Beng Wah, 50, who had been Newtech Technology (South Asia)'s GM, pleaded guilty to eight charges and had 97 others taken into consideration.

The case against his accomplices, Kwa Tian Hwa, 48, Ng Hai Hock, 51, and Chong Li Fong, 39, are pending.

A district court heard that Teo conspired with various vendors and individuals to issue fake invoices to deceive Newtech into making payments totalling $4 million.

Newtech provides mechanical and electrical engineering services.

While the company's accounts were being reviewed in July 2011, it was discovered that there were 101 invoices received from "vendors" between February 2010 and June 2011, for services that had not been given.

There were also 94 false purchase orders that Teo had requested and approved.

Investigations showed that Teo was a frequent gambler at the Resorts World Sentosa casino, and often borrowed money from his fellow gamblers.

To repay his loans and satisfy his gambling addiction, he cooked up a plan to work with others to submit fictitious invoices for non-existent services.

Teo, who was sacked in August 2011, has not paid any of the money back, and has been made bankrupt for failing to settle Newtech's civil claim against him.

He could have been jailed for up to 10 years and fined on each charge.