Jail for man who had firm opened in his name; its bank account got over $372k in scam proceeds

N. M. Pranesh, who was the company’s sole director and shareholder, was sentenced to 11 months’ jail on Sept 24.

Listen Summarise A Singapore Armed Forces regular was sentenced to 11 months' jail on Sept 24 after a company that was opened under his name received US$274,945 in scam proceeds. N. M. Pranesh had agreed to help a woman known only as "Judy" to incorporate the company. He is expected to begin serving his sentence on Oct 1. AI generated

SINGAPORE – A Singapore Armed Forces regular has been given a jail sentence after he agreed to help a woman incorporate a company , and had one opened under his name.

According to court documents, the bank account of the firm, called Prodigym Trading, later received a total of US$274,945 (S$372,110) in scam proceeds from March 14 to 16, 2022.