Former director admits misappropriating more than $255k of company’s money
Sign up now: Get ST's newsletters delivered to your inbox
On July 9, Suranakapan Palit pleaded guilty to two counts of criminal breach of trust involving more than $207,000.
ST PHOTO: KELVIN CHNG
Follow topic:
SINGAPORE - A man who earned around $156,000 a year as a business development director at an eyewear business misappropriated more than $255,000 of the company’s money.
On July 9, Suranakapan Palit pleaded guilty to two counts of criminal breach of trust involving more than $207,000.
A third charge linked to the remaining amount will be considered during sentencing, which is scheduled for July 18.
Suranakapan has made restitution totalling $150,000 and is no longer working for the company, Luxottica SEA.
Between Oct 26, 2018, and Oct 22, 2019, the 48-year-old Thai national used a company-issued credit card to unlawfully withdraw money and pay for expenses in transactions involving more than $97,000 in total.
He committed a similar offence involving cash totalling over $110,000 between Jan 1 and April 21, 2020.
The card should only be used to pay for work-related entertainment and travel expenses, said Deputy Public Prosecutor Ng Shao Yan.
Suranakapan left Singapore on March 4 that year, and the company later terminated his employment.
Through its internal control systems, it discovered his acts of misconduct.
Its human resources director alerted the police on Nov 24, 2020, and officers arrested Suranakapan when he returned to Singapore on Aug 21, 2023.
For each count of criminal breach of trust, an offender can be for up to 15 years and fined.
