Indian woman jailed in Singapore for misappropriating funds

Singapore: A 36-year-old Indian woman working as a finance manager here has been jailed for three years and 10 months for misappropriating more than 470,000 dollars from her company over six years.

Smita Salil Mhatre, faced six charges for misappropriating funds between 2008 and 2013, The Straits Times reported. She admitted yesterday to three counts of criminal breach of trust as a servant by pocketing funds belonging to Research Pacific Group.

Deputy Public Prosecutor Vincent Ong said she had joined the company in 2006 as an accounts and administrative executive and worked her way up to become the finance manager.

She managed the company's bank accounts and fund transfers and held onto the security dongles for the company's HSBC Bank accounts which enabled her to view the accounts and authorise and approve payments from her computer.

She misappropriated money from the company's funds by transferring various amounts from its HSBC accounts to her personal bank account with POSB Bank.

However, she had made restitution of 277,254 dollars, a significant portion of the misappropriated sum remained unaccounted for.

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