Jail for a man who submitted fake payslips to illegally obtain a bank loan of about $16,500

SINGAPORE — A man and an alleged accomplice, who was a contract employee of Citibank, submitted fake payslips to the bank to trick it into approving a loan of around $16,500.

Ahmad Rifaie Abdul Karim was just one person linked to a ruse in which Citibank was tricked into approving around 20 loan applications after receiving fake income documents. Each loan involved up to $24,000.

Cases involving several other people, including Ahmad’s alleged accomplice Kurumorthy Chandran, 26, also known as “Kelvin”, are still pending.

According to court documents, Kurumorthy was a Citibank direct sales agent at the time.

In an unrelated incident, Ahmad also kept a motorbike that his younger brother allegedly stole in November last year.

Ahmad, 35, was sentenced on Wednesday (February 9th) to 11 months in prison and banned from holding or obtaining any categories of driver’s license for one year from his release date.

The Singaporean had pleaded guilty to one count of withholding stolen property and participating in a conspiracy to commit cheating.

The case involving his brother, Muhammad Helmi Abdul Karim, 31, is also pending.

The court heard that in September 2018, Ahmad received a message on the WhatsApp communication platform from a man known only as “Kirk”.

Kirk then said he could help Ahmad get a loan from Citibank.

Deputy Attorney General Foong Ke Hui told the court: “The defendant told Kirk he was unemployed, but Kirk told him he could still get a bank loan with his help.

“Defendant agreed even though he knew he did not meet the income level required to qualify for a bank loan. Defendant sent an image of his NRIC to Kirk.”

Ahmad followed Kirk’s instructions later that month and met an unidentified man outside a Citibank branch at MacDonald House in Orchard Road.

Ahmad then retrieved a folder of documents from the man before handing it to Kurumorthy who was inside the bank.

The file contained two payslips indicating that Ahmad was allegedly employed by the information technology company NCS, receiving a salary of $8,500 for July and August 2018.

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