MAS bans four individuals for fraud

They will also serve separate prison sentences.

The Monetary Authority of Singapore (MAS) has issued prohibition orders (POs) against two former bank employees and two former insurance agents for fraud and dishonest conduct.

Former Barclays representative Kale Jagdish Purushottam was slapped with a 25-year PO whilst former DBS and Standard Chartered representative Liaw Tick Kwan was handed a 10-year ban. Ex-Manulife agents Mike Chew Jun Yong and Priscilla Tien Ling were each handed out six-year bans.

POs were issued after the four were convicted by the State Court of Singapore. Court cases involving Chew and Tien were related, whilst the others were unrelated. Purushottam was sentenced to 13 years in prison, Liaw will serve 46 months in prison, Tien will be imprisoned for eight months, and Chew will serve six.