3 ex-bank employees among 9 men charged with cheating Citibank in S$206,000 personal loan fraud

SINGAPORE: Nine men, together with three former financial institution employees, have been charged in court docket on Thursday (Dec 9) with conspiring to cheat Citibank into disbursing greater than S$206,000 in fraudulent personal loans.The three ex-bank employees are: Kirk Chua Min Xuan, 28, who was given eight costs of conspiracy to cheat; Kurumoorthy Chandran, 26, who acquired three related costs; and Jim Bryan Sim Jun Hong, 26, who acquired a cheating cost.Among the men additionally charged on Thursday have been loan candidates (*9*) Ramakrishnan, 28, Noah Loo Yu Hong, 27, and Foo Jin Tai, 27. The remaining three men are: Yap Siang Eugene, 27, Chua Hong Wei, 28, and Ng Jia Hao, 25.According to cost sheets, the men conspired to cheat Citibank in September 2018 by aiding these concerned to submit false earnings or Central Provident Fund paperwork to the financial institution for a loan.The financial institution was deceived into disbursing sums of between S$11,780 and S$24,795 to 14 individuals, based mostly on false paperwork reflecting the applicant's month-to-month primary salaries of between S$6,200 and S$10,200.Of the 9 men, Kirk Chua faces essentially the most costs. He is accused of being concerned in eight separate conspiracies to cheat Citibank into disbursing such loans.In one such scheme, Kirk Chua allegedly conspired with Muhammed Kamarul Ahmad Kamal in addition to two men recognized solely as "Charles" and "Jackson", in order to cheat Citibank round Sep 18, 2018.As a part of the conspiracy, Kamarul allegedly submitted false earnings paperwork stating that he was employed by Cognizant Technology Solutions with a month-to-month primary wage of S$10,200 in June 2018, July 2018 and August 2018. The financial institution was induced into giving him S$24,795. Court paperwork at this early charging stage didn't reveal how the offences got here to gentle. The 9 men will return to court docket in January.If convicted of conspiring to cheat, the men resist 10 years' jail and a nice per cost.CNA has contacted Citibank for more data.