Thursday, August 14, 2008

Fugitive ex-Citiraya boss fled with US$51m

Article on The Straits Time, By K. C. Vijayan
THREE years after Ng Teck Lee fled the country with money he pocketed while running waste recycling company Citiraya, it has now surfaced just how much he amassed and how he did it.
In all, investigators believe he skipped town with US$51 million (S$72 million), made from selling used computer chips which the recycler should have destroyed.
This makes the fraud one of Singapore's biggest ever corporate scandals.

To him, his family is only worth S$72 million. I guess to many of us, this is really a hefty sum of money, enough to last for few generations (depending on how one use it lah...). Not that I'm very noble or what, but does it not weigh on his conscience that he has ruin lives for the family of 11 who was convicted for the crimes that he mastermind and he has fled with most of the money, benefitting from the illegal trade?

I guess we would never know, cos with S$72 million, anyone can do a total makeover that no longer resemble any current images so much so that even if he's in town, no one will know.

:( World is so unfair

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