The High Price of Loans for Grants
There are so many kinds of loans available out there for each and every purpose but when a loan is given, it is expected to be repaid, often with interest. However, in this case when a loan is given, there is more than meets the eye. Read on to find out more…
2. Lai Wai Khuen (“Lai”) is an assistant director at the Media Development Authority (MDA). His work responsibilities included the evaluation of projects to determine if they fit the criteria for the application of various MDA grants before asking the companies to send in their applications. Upon receiving the applications, Lai would then forward them to a panel of assessors who would assess on the application and decide whether to approve the grant. Lai was also responsible for the disbursement of the grant which was usually given out in instalments.
3. Investigations revealed that from 2010 to 2012, Lai had obtained loans from grant applicants as an inducement or reward for facilitating the approval and disbursement of grants. In total, he had obtained loans amounting to $23,565 from 12 individuals on 27 occasions except for one occasion where he had attempted to obtain a loan of $3,000 but without success.
4. In addition, on three separate occasions, Lai had forged documents by fraudulently signing off as Thomas Lim, a Director with the MDA, with the intention to mislead that the document was signed by the latter.
5. Lai Wai Khuen will be charged with 27 counts of corruptly obtaining loans and one count of corruptly attempting to obtain a loan as an inducement for facilitating the approval and disbursement of grants, under Section 6(a) of the Prevention of Corruption Act, Chapter 241.
6. Moreover, Lai will also be charged with three counts of forging documents, an offence punishable under Section 465 of the Penal Code (Chapter 224, 2008 Rev. Edn).
7. Lai Wai Khuen will be charged in court on 17 January 2014. The respective charges are attached.
8. Singapore has always adopted a zero tolerance approach towards corruption. The CPIB takes a serious view of any corrupt practices, and will not hesitate to take action against any party involved in such acts.
Corrupt Practices Investigation Bureau