SINGAPORE - A former senior executive at Spring Singapore who duped the statutory board into disbursing nearly $155,000 and kept more than $77,000 was sentenced to four years' jail on Monday .
Before handing down the sentence, District Judge Mathew Joseph noted that Leong was the mastermind of the scam which involved"extensive planning". The vouchers, each worth $5,000, were given to small and medium-sized enterprises to encourage them to develop their capabilities in five categories - innovation, productivity, human resource, financial management and solutions.
Each claim had to be accompanied by an invoice and a proof of payment from the solution provider. Applicants would receive the disbursement after Spring Singapore approved the claims. Said DPP Yew:"To carry out the plan, Leong engaged in four separate conspiracies with each of his four friends to register multiple shell business entities and forge supporting documents for the sole purpose of submitting fictitious ICV applications and claims to obtain the ICV ."
In an earlier statement, Enterprise Singapore said:"We have put in place stringent controls covering the different stages of the grant process from vendor qualification and selection, to evaluation of application and authentication of applicants, to the verification of claim submission and disbursement.
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