India-born expat and Singapore Permanent Resident, Smita Salil Mhatre, 36, was sentenced to 46 months jail today (Jan 19) for cheating her former employer, Research Pacific Group, of S$470,000 by transferring the company funds into her own bank account between 2011 and May 2013.
Smita joined her employer in 2006 as an accounts and admin executive, and was subsequently promoted to the finance manager position. Her company decided to leave pre-signed cheques with her as the director needed to travel overseas frequently.
Using cheques and fund transfers with banking tokens under her care, Smita would transfer funds from the company’s HSBC account to her own POSB account over the 6 years. Out of the S$470,000 stolen, she has only made restitution of S$277,254 while the remaining amount remain missing. Although she faced a maximum jail sentence of 7 years, the Singapore Court only sentenced her to a 46 months jail term.