Arni Ahmad, 41, and Hanati Jani, 49, face over 800 charges collectively for defrauding the Singapore Statutory Boards Employee’s Co-operative Thrift and Loan Society of over $5 million over 5 years.
Arni and Hanati had misappropriated the amount by using fake applications lodged by fake members. They laundered the money through a network of other fake members before depositing the money into their accounts.
They were discovered in 2014 when the co-operative discovered more than $5 million missing from its accounts.
They will face charges on 25 Jan. They face up to 10 years’ jail per charge and a fine.