Raul Randhawa sentenced to four months for misappropriating nearly $30,000.
SINGAPORE – A former risk and controls officer at an insurance company, earning over $11,000 a month, was sentenced to four months in jail after misusing a corporate credit card for personal expenses totaling $29,674.
Offense Details
Raul Randhawa, 44, admitted to criminal breach of trust, pleading guilty in court on 30 October 2024. Despite signing an agreement limiting the card’s use to company-related activities, Raul made 27 unauthorized transactions. He has since fully reimbursed the stolen amount.
Deputy Public Prosecutor Gabriel Lee revealed that Raul misused the card between July and October 2023 to fund his extravagant lifestyle, which included frequent trips to Jakarta to socialize with friends.
Corporate Misconduct
Raul began working at AIG Apac in August 2020, entrusted with responsibilities like implementing IT policies and managing the corporate credit card, which had a $30,000 credit limit. Despite resigning on 25 October 2023, he falsely claimed on an exit clearance form that he had never been issued the card.
After being confronted with documentation proving otherwise, Raul eventually admitted possession of the card, which the company canceled on 3 November 2023.
Four days later, AIG Apac discovered the unauthorized charges, made between his resignation and the card’s cancellation. In addition, Raul attempted to raise the card’s limit to $50,000 and redirected its billing address to his home, actions unauthorized by the firm.
Court Proceedings and Sentencing
Raul’s attempts to conceal his actions were exposed through Citibank records showing he approved the transactions, confirmed via SMS notifications sent to his phone.
Following the investigation, Raul was granted bail of $10,000 on 30 October and is scheduled to begin serving his sentence on 13 November.
This case highlights the importance of internal controls within companies to prevent misuse of corporate resources and enforce accountability among employees.
