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Singapore sends businessman to jail for role in Wirecard fraud

Bloomberg
Bloomberg • 1 min read
Singapore sends businessman to jail for role in Wirecard fraud
Wirecard filed for bankruptcy in 2020 after acknowledging that 1.9 billion euros ($2.8 billion) it had listed as assets probably didn’t exist. Photo: Bloomberg
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A Singapore judge handed a 12-month prison term to a businessman for conspiring to misappropriate money in the Wirecard AG scandal.

Henry Yeo, a director at Jacobson Fareast Marketing Services Pte, was convicted after pleading guilty to three charges in a Singapore state court on Tuesday.

“Wirecard Asia suffered a total loss of $123,070 as a result of the accused’s participation in the conspiracy to dishonestly misappropriate money from its account,” deputy public prosecutor Vincent Ong said in court.

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