16 May 2008
STOLEN MILLIONS RETURNED TO SINGAPORE
Australia will repatriate stolen funds totalling $3.86 million to the Singapore Government under the Proceeds of Crime Act 2002, the Minister for Home AffairsBob Debus said today.
“The repatriation of proceeds of crime to its country of origin is an important part of the international cooperation involved in the investigation and prosecution of crime,” Mr Debus said.
The forfeiture is the result of investigations by the Australian Federal Police, in
cooperation with Singapore Police into criminal activity by Singapore national Teck Leng Chia.
Chia defrauded a number of foreign banks in Singapore using documents purported to be from his employer, Asia Pacific Breweries.
He used two Westpac accounts to launder more than AUD $90 million from banks in Singapore and used the funds to gamble at casinos in Australia, South-East Asia and the United Kingdom.
Chia was convicted in Singapore in 2003 and sentenced to 42 years in jail.
Mr Debus said AFP Commissioner Mick Keelty would return the stolen funds to the President of Singapore today, where he’s receiving the country’s Distinguished Service Order.
“I am pleased to be able to return the money stolen by Chia to Singapore where it will be used to compensate his victims.
“I congratulate the AFP and the Commonwealth DPP for their work on this case and commend the international policing community for their cooperation.”
The Proceeds of Crime Act provides a scheme to trace, restrain and confiscate funds obtained through criminal activity.
Media Contact: Samantha Wills 0448721372