A former employee of Wirecard Asia, a subsidiary of the international payment services company Wirecard, has been sentenced to 10 weeks in jail for her part in an embezzlement scheme involving S$47,000 (US$34,400). The case highlights the complexities and challenges faced by junior employees who become entangled in illicit financial activities orchestrated by their superiors.
A Junior Employee’s Involvement
Singaporean national See Lee Wee, 30, pleaded guilty to one count of criminal breach of trust, with two counts of money laundering taken into consideration. See, also known as Krystal, worked as a controlling manager at Wirecard Asia, where she was responsible for financial planning and analysis for the Asia-Pacific region.
See’s legal team argued that she was merely a junior finance executive who followed the instructions of her direct supervisor, Irene Chai Ai Lim, and the alleged mastermind behind the embezzlement scheme, Edo Kurniawan, who served as the vice-president of controlling and international finance at Wirecard Asia.
Edo Kurniawan managed to evade arrest in Singapore and is currently wanted by Interpol with a red notice issued against him.
The Unfolding of the Scheme
The embezzlement scheme began when Edo Kurniawan informed Irene Chai that he needed to transfer S$100,000 for an individual known as “India.” Chai, who was the head of finance at Wirecard Asia at the time, confirmed the availability of funds within the company.
Subsequently, Edo approached See Lee Wee, urgently requesting her to take a loan from Wirecard Asia, withdraw the cash, and hand it over to him promptly. Edo assured See that this “loan” would be converted into a “bonus” for her, negating the need for repayment.
Despite her reservations, See complied with Edo’s request, not inquiring about the purpose of the transfer. Chai facilitated the transfer of S$47,000 from Wirecard Asia’s account to See’s personal bank account as per Edo’s instructions.
Following the transfer, See withdrew most of the funds and handed them over to an unidentified individual and Edo himself. She retained a portion of the money, which she used for her personal expenses.
Contrary to Edo’s assurances, the “loan” was never converted into a bonus and remained unpaid. Eventually, See repaid approximately S$18,000 to Wirecard Asia, while Irene Chai separately restituted S$70,000 to the company. Chai had previously pleaded guilty to her involvement in the case and received a 10-month jail sentence in June.
Legal Proceedings and Sentencing
Deputy Public Prosecutor Vincent Koh argued that See should serve a prison term of three to five months, emphasizing her lesser culpability compared to Chai. While the case has drawn attention to the role of junior employees in complex financial schemes orchestrated by their superiors, it also underscores the legal consequences that may await those who become entangled in such activities.
The Wirecard scandal has had far-reaching implications, affecting not only the company but also the individuals who played a role in its financial misconduct. As legal proceedings continue, it remains a cautionary tale for those navigating the complexities of corporate finance and responsibility.
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