Manager Of Arcade Complex In Singapore Missing Together With Company Funds
- From: "Bishop" <Bishop@xxxxxxxx>
- Date: Sat, 11 Aug 2007 09:58:31 +0200
Manager Of Arcade Complex In Singapore Missing Together With Company Funds
August 8, 2007 1:37 p.m. EST
Preciosa Dumlao - AHN
Singapore (AHN) - A veteran manager of a well known commercial complex in
Singapore is now missing after allegedly pocketing millions from his
employer.
Wilson Loh Wan Wah, former manager of Raffles Place's Arcade allegedly
produced and counterfeited invoices and payment vouchers including the
building's management corporation amounting to $4.77 million in 11 years. He
also produced fake 102 checks.
According to court documents, Loh is now missing with the stolen money.
The management of Arcade filed charges against Loh and his employer,
accusing the manager of failing to fulfill his duties in taking care of the
building's money and accounts.
The irregularities were discovered when the complex issued a check amounting
to $524,000 as payment to a sub-contractor but was not honored by the bank.
They also found that Loh's files, documents and computer hard disks were all
missing.
An audit conducted in the management fund showed a balance of only $45,000
when it should have $2.7 million in funds.
.
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