Ong Ah Huat and his alleged accomplices caused China Merchant Bank Singapore to suffer losses totalling about US$10 million. - ST
SINGAPORE (The Straits Times/ANN): The former chief financial officer of a crude oil products supplier who worked with three others to dupe eight banks into disbursing about US$320 million (S$424 million) in loans was sentenced on Monday (May 3) to nine years' jail.
Ong Ah Huat and his alleged accomplices caused China Merchant Bank (CMB) Singapore to suffer losses totalling about US$10 million.
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