A man was sentenced to 27 months in jail after committing numerous charges from receiving money from criminal conduct, forgery and obstructing the course of justice.
56-year-old Singaporean, Mohd Jamail Khan Banakhani Shafi Khan was the director of Jars Technology Pte Ltd. Between May 23, 2016, and May 12, 2017, Jars Technology and Jamail received a total of USD343,120 and USD49,956 in their bank accounts, respectively. These monies were acquired through cheating offences committed both domestically and internationally.
He then moved funds from both bank accounts to local and international parties and utilized some of the funds for personal needs. The vast bulk of the proceeds from illicit activity was recovered throughout the course of investigations.
It is believed that he had gotten benefits for conducting the receive and transfer of the criminal proceeds.
During the course of the inquiry into the aforementioned transfers, Jamail furnished the Commercial Affairs Department with two falsified investment agreements.
Penalties
The offences of acquiring and transferring property having reasonable grounds to believe that the property represents another person’s benefits from criminal conduct are punishable with an imprisonment term of up to 10 years, a fine not exceeding S$500,000, or both.
The offence of forgery carries an imprisonment term of up to four years, a fine, or both. The offence of obstructing the course of justice carries an imprisonment term of up to seven years, a fine, or both.