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Ex-M1 staff stole 3,400 high-end smartphones

By Terence

What is the world coming to? So much corruption..even in Singapore?

M1 Employee stole thousands of handphones

M1 Employee stole thousands of handphones

A former M1 employee stole 3,414 high-end smartphones and sold them for $2.09 million, the Singapore telco has alleged.

According to court documents filed by M1 last week, Mr Matthew Yeo Kay Keng, 35, has apparently been stealing handsets since 2008, and using the money he got through their sales to buy luxury cars and designer watches, reported The Straits Times (ST).

Mr Yeo, who deals with corporate clients, allegedly took 154 handsets in 2008, 625 in 2009 and 2,635 this year by cooking up fake sales orders.

His actions were discovered when a performance audit found the discrepancy between what the account manager was supposed to make for the company and what M1 was really taking in. The latter’s monthly revenue from corporate clients was lower than what is should have been, reported ST.

When Mr Yeo returned on Nov15 after a $10,000 holiday in Japan, he was asked to explain the discrepancy.

The father of two admitted to taking the handsets and disclosed how he spent the money, according to sworn statements by M1 chief financial officer Lee Kok Chew.

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