Man allegedly misappropriated nearly $2.5m while acting as liquidator
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Tee Wey Lih is charged with eight counts of criminal breach of trust for allegedly misappropriating nearly $2.5 million of funds.
ST PHOTO: KELVIN CHNG
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SINGAPORE – A former director of multiple firms was charged on Oct 3 after he allegedly misappropriated nearly $2.5 million in total while acting as an appointed liquidator of other companies.
Tee Wey Lih, 48, who used to be a director at firms including Learning Space and Acres Capital, is accused of eight counts of criminal breach of trust.
The Singaporean allegedly committed the offences between 2020 and 2022, with each charge involving around $128,000 to $705,000.
Court documents stated that the $705,000 was linked to a company known as Rife Engineering.
Between June 28 and Aug 22, 2022, Tee was its appointed liquidator and was entrusted with the amount. He then allegedly misappropriated the money.
He is said to have committed similar offences while acting as the appointed liquidator for other companies including United Legal Alliance, Newstead Technologies, Plantation Management Partners and Brightoil 639 Oil Tanker.
Tee’s case has been adjourned to Nov 13.
