SINGAPORE, April 29 — For seven years, a senior claims executive at Chubbs Insurance executed what a judge described as an “elaborate scheme” to cheat his employer into...
For seven years, a senior claims executive at Chubbs Insurance executed what a judge described as an ‘elaborate scheme’ to cheat his employer into disbursing over S$10.74 million in fraudulent claims. — TODAY picSINGAPORE, April 29 — For seven years, a senior claims executive at Chubbs Insurance executed what a judge described as an “elaborate scheme” to cheat his employer into disbursing over S$10.74 million in fraudulent claims.
“According to the accused, the beneficiaries were unaware that the payments they received were fraudulent payments,” said the prosecutors. The executive then would send the payee’s details via email to another department within Chubbs for the payment to be effected “These claim disbursement reversals allowed the accused to prevent a spike in expenditure from being reflected in the company’s records, thus ensuring that the false claims he had created would not arouse suspicion,” said the prosecutors.
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