28 Oct '11, 9am

6 years' jail for embezzler who splurged $2m on cars, watches

An M1 account manager pocketed $2 million in two years from selling stolen phones to third parties. -- ST PHOTO By Khushwant Singh An M1 account manager pocketed $2 million in two years from selling stolen phones to third parties. Matthew Yeo Kay Keng blew most of it on luxury cars including Porsches, watches and bags. He even invested $300,000 in a science-fiction movie project called Metalgraves as he thought he would be famous in Hollywood if the film took off. However, he would not be going anywhere for the next six years. The 35-year-old was on Friday jailed for five years for criminal breach of trust and another year for money laundering. He had pleaded guilty earlier this month. Yeo had misappropriated 3,085 handsets belonging to M1 between 2008 and 2010. The account manager first created subscription contracts for mobile services purportedly made for corporate cust...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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