Ong Ah Huat and his alleged accomplices caused China Merchant Bank Singapore to suffer losses totalling about US$10 million.
His alleged accomplices were his former colleagues at Coastal Oil, which has since entered into liquidation. Deputy Public Prosecutors Thiagesh Sukumaran and Dhiraj Chainani had earlier told the court that Ong joined Coastal Oil as its chief financial officer in May 2016. Ong agreed to continue perpetuating the scheme, which involved items such as forged sale and purchase contracts as well as tax invoices.
The offences came to light when the acting managing director of one of Coastal Oil's trading partners, Sinfeng Marine, lodged a police report on Jan 7,2019.
Swift and equitable with his crime ! When this method can be implemented in Malaysia in the case of Najib Razak !? Postponement is the excellent work of qualified lawyers in Malaysia unlike in Singapore spot on !