Chance to become a billionaire spoilt by police.AFP
cornyfish2000
Originally posted by WinnieThePooh:
If they are withdrawing in China, it would be from the Chinese Govt liao.
Well but they are withdrawing from DBS, which is a bank owned by the Singapore government.
matured
Just to wrap up the case :
South China Morning Post December 11, 2007 Tuesday
A $108USb bank swindle that just had to fail Yvonne Tsui
Two Singaporeans and a mainlander were jailed yesterday for using false cheques and deposit certificates to try to withdraw more than $108US billion from a bank.
The District Court heard that the three claimed the documents were issued in 1948 by Overseas Trust Bank - which was only established in 1955.
Police were alerted and the three were arrested on June 4 after a meeting with bank staff.
They all pleaded not guilty on November 16 to five counts of using false documents and copies of false documents, denying they had used the papers in an attempt to induce the bank to pay more than $108US billion between April 25 and June 4.
Deputy Judge William Lam Kui-po passed a term of 39 months on mainlander Ma Ping, 32, who told the court the documents had been given to her by an aunt.
Judge Lam said Ma was the mastermind who instigated the whole scheme and instructed Singaporeans Eddie Woon Kwok Jin, 53, and Lim Ban-hoong, 62, to cash the cheques.
Woon was jailed for 30 months for his important role in the scheme, and Lim received an 18-month term.
Prosecutor Peter Cahill said Woon and Lim took photocopies of certificates of deposit and cheques said to have been issued by the Overseas Trust Bank in 1948 to a DBS bank in Wan Chai in April.
Overseas Trust Bank was purchased by DBS Bank in 2003 and renamed DBS Overseas.
Woon and Lim claimed they were entrusted by Ma to withdraw the money from the account of Sa Haiian, who was said to be Ma's aunt.
The court heard that not only did the false documents pre-date the opening of Overseas Trust Bank in 1955, the bank also had no record of such a customer.
Yet Woon and Lim claimed to the bank staff during their first meeting on April 25 that they had a total of 30 cheques issued in 1948, each with a face value of $2US.6 billion.