Jail for ex-director who misappropriated over $255k of company’s money
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Suranakapan Palit arriving at the State Courts on July 9, 2024.
ST PHOTO: KELVIN CHNG
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SINGAPORE – A former business development director at an eyewear company who misappropriated more than $255,000 of its money
Thai national Suranakapan Palit, 48, who previously earned around $156,000 a year at Luxottica SEA, pleaded guilty on July 9 to two counts of criminal breach of trust involving more than $207,000.
A third charge linked to the remaining amount was considered during sentencing.
Between Oct 26, 2018, and Oct 22, 2019, he 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 more than $110,000 between Jan 1 and April 21, 2020.
In earlier proceedings, Deputy Public Prosecutor Ng Shao Yan told the court that the card should only be used to pay for work-related entertainment and travel expenses.
Suranakapan left Singapore on March 4, 2020, and the company later terminated his employment.
Through its internal control systems, the company discovered his acts of misconduct.
Its human resources director made a police report 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 jailed for up to 15 years and fined.
