Following investigations by the Commercial Affairs Department (CAD) into the activities of two Singapore subsidiaries of the German company Wirecard AG, Wirecard Asia Holding Pte Ltd (“WAH”) and Wirecard Singapore Pte Ltd, three former employees of WAH and Yeo Chiew Hai Henry (“Yeo”), a director of another Singapore company Jacobson Fareast Marketing Services Pte Ltd (“JFMS”), have been charged in court on 17 August 2022. The former employees of WAH are James Aga Wardhana (“Wardhana”), Chai Ai Lim (“Chai”) and See Lee Wee (“See”).
Between May and December 2018, the four individuals allegedly conspired with Edo Kurniawan (“Edo”), the then Vice President of Controlling & Finance of WAH, to dishonestly misappropriate various amounts between $41,200 to $100,000 from WAH. They are charged for offences of criminal breach of trust under Section 408 read with Section 109 of the Penal Code in relation to these amounts. If convicted, they face an imprisonment term which may extend to 15 years, and liability to a fine, for each charge.
Wardhana, See and Yeo are also accused of committing money laundering by allegedly transferring most of the misappropriated amounts to other individuals. For doing so, they are charged for transferring benefits of Edo’s criminal conduct under Section 47(2)(b) punishable under Section 47(6) of the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. If convicted, they face an imprisonment term which may extend to 10 years, and liability to a fine not exceeding $500,000, for each charge.
In addition, Wardhana has been charged under Section 477A read with Section 109 of the Penal Code, for allegedly abetting Yeo to falsify four invoices totalling $184,870 from JFMS to WAH. Yeo has also been charged under Section 477A of the Penal Code in respect of these invoices. If convicted, they face an imprisonment term which may extend to 10 years, and liability to a fine, for each charge.
Edo left Singapore before investigations into the abovementioned offences commenced. A Warrant of Arrest has been issued against him in connection with the case.