Remaining charges withdrawn for man linked to scam in which bank lost over $1.79m
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Bijabahadur Rai Shree Kantrai arriving at State Courts on Aug 20, 2024.
PHOTO: ST FILE
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SINGAPORE – All remaining seven charges faced by a man linked to a housing loan scam
This means Bijabahadur Rai Shree Kantrai, 55, cannot be charged again with the same offences.
The Singaporean was part of a group of five people who worked together on a ruse that led to a bank being duped into disbursing mortgage loans totalling more than $5.1 million.
In an earlier statement, the police said that between 2014 and 2015, Rai devised a scheme to perpetrate mortgage loan frauds involving two properties
The bank then incurred a loss of over $1.79 million.
The fraud was eventually uncovered when nominee buyers linked to the ruse defaulted on the loans.
Rai was earlier sentenced to 7½ years’ jail in August 2024 after he was convicted of multiple charges for offences including cheating.
Seven other charges – the remaining ones – were then slated to be dealt with at a later date.
He later appealed against his conviction and sentence.
Responding on Dec 3 to queries from The Straits Times, the Attorney-General’s Chambers (AGC) said that in April, the High Court dismissed his appeal against his conviction and sentence.
Without revealing details, an AGC spokesperson added: “Further, the High Court allowed the prosecution’s appeal against the sentences imposed and increased his aggregate sentence to 11 years’ imprisonment.
“After careful consideration of the facts and circumstances of the matter... the prosecution applied for a discharge amounting to an acquittal for (Rai’s seven remaining) charges.”
The court granted it on Nov 26.
