Two charged for attempt to defraud CPF
Charges have been brought against Chen Zhihao Samuel and Wong Tuck Wai Raymond for carrying out a scheme to defraud the Central Provident Fund (CPF) board.
Between September 2017 and January 2019, Chen withdrew funds from his CPF Ordinary Account (OA), by incurring trading losses when he bought shares from Wong at artificially high prices and subsequently sold the shares to Wong at artificially low prices.
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Minime 05/04/2021
You can’t cheat the government organisation because you will be caught eventually. Now you face jail time.
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