Shanmugaratnam falsely stated he held about 378 million euros in escrow across multiple accounts as of December 2016 and 97.5 million euros as of November 2016 in a fifth account, the charges stated.
Singapore authorities charged the director of a local accounting firm with fraud for falsely claiming his company held 475.5 million euros ($761.19 million) on behalf of disgraced German payments business Wirecard AG in 2016.
R. Shanmugaratnam, a director of Citadelle Corporate Services Pte, was charged with five counts of “wilfully and with intent to defraud” falsifying letters to Wirecard, Wirecard UK & Ireland Ltd., and Cardsystems Middle East FZ LLC, according to charge sheets filed on Thursday and seen by Bloomberg News.
