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Oct 16, 2009
Jailed for cheating bank <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Elena Chong, Courts Correspondent </td></tr> </tbody></table>
A MAN was jailed for nine months on Friday for conspiracy to cheat a bank into granting him a housing loan. Muhammad Nazrin Mahad, 31, a pest controller, had admitted to scheming with a man called Ah Seng to deceive DBS Bank into approving a $585,000 loan to buy a property at Koon Seng Road on Jan 12, 2007. A week later, he signed an option to purchase in respect of the property. The court heard that he approached Ah Seng in 2006 as he needed cash badly. Ah Seng told him to hand over a copy of his Central Provident Fund statement and his identity card. In January 2007, Ah Seng directed him to sign various documents relating to the purchase. DBS managed to recover the amount disbursed after selling off the property in August that year. Nazrin, who had two other charges taken into consideration, could have been jailed for up to seven years and/or fined on each of the two proceeded charges.
Oct 16, 2009
Jailed for cheating bank <!--10 min-->
<!-- headline one : start --> <!-- headline one : end --> <!-- Author --> <!-- show image if available --> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr></tr> <tr> </tr> <tr> </tr> <tr><td colspan="2" class="padlrt8 georgia11 darkgrey bold">By Elena Chong, Courts Correspondent </td></tr> </tbody></table>
A MAN was jailed for nine months on Friday for conspiracy to cheat a bank into granting him a housing loan. Muhammad Nazrin Mahad, 31, a pest controller, had admitted to scheming with a man called Ah Seng to deceive DBS Bank into approving a $585,000 loan to buy a property at Koon Seng Road on Jan 12, 2007. A week later, he signed an option to purchase in respect of the property. The court heard that he approached Ah Seng in 2006 as he needed cash badly. Ah Seng told him to hand over a copy of his Central Provident Fund statement and his identity card. In January 2007, Ah Seng directed him to sign various documents relating to the purchase. DBS managed to recover the amount disbursed after selling off the property in August that year. Nazrin, who had two other charges taken into consideration, could have been jailed for up to seven years and/or fined on each of the two proceeded charges.
