SINGAPORE - Two men, aged 37 and 45, were charged on Friday (June 24) with conspiring to dishonestly misappropriate monies entrusted to one of them.

The police said the 45-year-old man in 2019 was allegedly entrusted with $5.6 million by a money changer to obtain a cashier's order of the same amount.

Both men allegedly used $600,000 of these monies to fund their own business, the police added.

The offence of conspiring to commit criminal breach of trust carries a jail term of up to seven years and a fine.