Instead of securing a Ferrari for a customer, a car sales representative for Wheeler Dealers SG Pte Ltd misappropriated more than $440,000.
Daniel Lewis Lim, 39, also pocketed more than $100,000 in payments meant for the firm.
Yesterday, Lim was sentenced to four years and eight months' jail after pleading guilty to two counts each of criminal breach of trust and converting the benefits of his criminal activities into casino chips.
He also admitted to one count of being in possession of $40,000 in ill-gotten gains. He had kept it in a safe in his Jalan Batu home, off Mountbatten Road. Ten other counts of converting the benefits were taken into consideration during sentencing.
Lim had pocketed two cheques totalling $592,000 from one Mr Liow Ming Yew, 34, who contacted him in June 2015 to buy a Ferrari model 458. The sum comprised the price of the car and other expenses such as insurance, road tax and repairs.
The court heard that only $143,934.46 was applied towards the purchase of the Ferrari. Between June 2014 and May 2015, Lim had also closed deals and collected payments on behalf of Wheeler Dealers SG Pte Ltd. But he failed to hand over $103,914.50 in cash.
Instead he went to the Marina Bay Sands casino and converted $520,000 of his criminal proceeds into casino chips between July 16 and 31, 2015, and kept $40,000 of his ill-gotten gains in his home.
He is now out on bail of $150,000 and will surrender himself to the court on July 3.
Correction Note: An earlier version of this story referred to the company the accused worked with as Wheeler Dealers. This has been corrected to Wheeler Dealers SG Pte Ltd.