SINGAPORE: In a shocking breach of trust, a 27-year-old accounts executive, Linberg Yeo Yu Wei, siphoned off more than half a million dollars from his employer over two months. He used the stolen funds to indulge in lavish purchases and a gambling spree. Yeo, employed by biomedical equipment supplier SPD Scientific, pleaded guilty to one count of cheating and was sentenced to 19 months in prison on January 22.
According to the Straits Times, Yeo’s crime, between August and October 2023, involved falsifying payment requests and deceiving his CEO into approving $501,173 in company funds. His illicit spending included buying Pokemon trading cards, a second-hand Rolex watch, and an iPad. He also used the money to fund gambling and cover personal expenses like credit card bills and holidays.
His misappropriations first came to light in November 2023 when SPD Scientific’s human resources manager uncovered discrepancies in the company’s accounting records, including a suspicious $24,840 transfer to Yeo’s bank account. Upon questioning, Yeo returned the funds the following day, but an internal investigation soon revealed financial misconduct on a larger scale. A police report was filed, and Yeo was arrested in January 2024. At the time of his arrest, he still had approximately $400,000 of the stolen funds, along with the Rolex watch, valued at $17,888, which was seized as evidence.
Deputy Public Prosecutor Goh Qi Shuen described Yeo’s actions as abusing his position and trust. Goh explained that he created fictitious entries in the payment requests, deceiving the CEO into believing they were legitimate vendor payments. Citing the severity of the offence, the prosecutor initially requested a prison sentence of between 20 and 22 months.
In his defence, Yeo’s lawyer, Mr Quek Liuyong of IRB Law, argued that his client had been under significant work-related stress, feeling unfairly treated but unsure of how to express his concerns. He claimed that Yeo’s growing frustration eventually led him to embezzle the funds. The defence also noted that Yeo had fully refunded the stolen amount to the company and was now employed at a different firm, where he had been transparent about his criminal past.
While the defence sought a reduced sentence of 12 to 15 months, the court ultimately gave a 19-month jail term. Yeo’s actions are a stark reminder of the importance of corporate accountability and the consequences of abusing positions of trust within the workplace.
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