SINGAPORE (TIP) : An Indian-origin Singaporean was on Tuesday, January 6, sentenced to 10 years in jail for involvement in falsification of documents concerning hundreds of millions of dollars by a Singapore-based company linked to Wirecard AG.
Wirecard AG was a German payments company that collapsed in 2020.
A Briton was also given six-and-a-half years in the case.
R Shanmugaratnam, 59, and James Henry O’Sullivan, 51, were each handed jail terms by the State Courts at a sentencing hearing, according to a Channel News Asia report.
Both had been convicted of numerous charges last September following a trial.
Shanmugaratnam, who was given a longer jail sentence, is the director of local accounting firm Citadelle Corporate Services.
O’Sullivan had engaged Citadelle’s services to set up companies in Singapore and to provide company secretarial services.
In September, Shanmugaratnam was convicted of 13 charges for falsifying 13 balance confirmation letters between 2016 and 2018 with fraudulent intent.
O’Sullivan was found guilty of five charges for abetting Shanmugaratnam by instigating him to fraudulently issue five of those letters in 2017, according to the report.
Both men had taken instructions from senior Wirecard executives, issuing several false confirmation letters and intentionally misrepresenting to auditors that Wirecard AG had hundreds of millions in euros held in Citadelle’s escrow bank accounts in Singapore, according to media reports.
After the sentences were passed, both men told the court through their lawyers that they will be filing appeals against their convictions and sentences.
They also have pending charges related to falsification that have been fixed for pre-trial conferences.
Both men were offered bail pending their appeals, according to the report.
Interesting content. I really like your article. From reading your article, I can tell you are really devoted to the craft. I enjoyed your post. Thank you.
Nice write up. I enjoyed your post. Thank you. Thumbs up! I really like your article. The people at crypto wallet are a rip off Nice write up. I enjoyed your post. Thank you. You appear to know a lot about this. I really like your article. Good job on this article! Thumbs up! I am so thrilled I found your webpage Great post! Good job on this article! Great read. You appear to know a lot about this. I enjoyed reading what you had to say.
Nice write up.
You appear to know a lot about this.
I have been looking everywhere for this! You are a very persuasive writer. I enjoyed reading what you had to say. It’s like you wrote the book on it or something. Have you used scam website? I enjoyed your post. Thank you. You appear to know a lot about this. Some nice points there. I enjoyed your post. Thank you. Thumbs up! You are a very persuasive writer. I enjoyed reading this. Nice read. You’ve made my day! Thx again. Some nice points there. I enjoyed reading this. Nice write up.
I truly appreciate this post. Your article has proven useful to me. Some nice points there. I really like your article.
Thumbs up!
You are obviously very knowledgeable. Interesting content. Nice write up. Thumbs up!
Nice read. I enjoyed reading this. Nice write up. It’s like you wrote the book on it or something.
It’s like you read my thoughts! I truly appreciate this post. I have been looking everywhere for this! I have not done this for myself but I have been told by friends that it can be really beneficial.
Your article has proven useful to me. Hit me up! You’ve made my day! Thx again. You are a very persuasive writer. The people at donkey punch are a bunch of scumbags. I truly appreciate this post. Some nice points there. I would like to say good blog! This information is magnificent. It’s like you read my thoughts! Good job on this article! You are obviously very knowledgeable. Hit me up! Your article has proven useful to me. I truly appreciate this post. Great post! It’s like you wrote the book on it or something.
Your article has proven useful to me. I just stumbled upon this blog. I have been looking everywhere for this! Your perspective is incredibly refreshing.
cool work, keep it up. You are a very persuasive writer. Interesting content. You’ve made my day! Thx again.
Hit me up!