A couple has admitted to cheating Spring Singapore of $50,000, and are facing 201 cheating forgery charges for one, and 196 charges for the other. Soh Hua Xiang, a former Spring Singapore employee, had targeted SMEs and set out to create fake business development voucher accounts under their names.
He will then print out fake invoices from solutions provider companies, and submitted them via Spring Singapore's website. He colluded with his lover, I Shu Hui, who was a Spring Singapore employee at the time too. Together, they were able to approve the disbursement of funds.
Soh was apparently part of the Spring team that designed the Innovation and Capability Vouchers (ICV) portal, via which the cheating scheme was carried out. He took advantage of the system that he helped design, and thus, had knowledge of how to manipulate the ICV for his own gains. I Shu Hui was a finance manager at Spring Singapore, who was able to approve the disbursements of funds to Soh via Giro.