05 Sep '11, 5am

Freelance forex trader jailed for misappropriation of funds

SINGAPORE: A freelance foreign exchange investment trader who misappropriated S$106,986 of her clients' money was sentenced on Monday to seven months' jail. Julaiha Juraimi received S$75,000 from Mr Chia Quee Khee after entering into an agreement with him for a three-month contractual period starting 3 May 2010. Julaiha told 66-year-old Mr Chia that she would invest the money and he would receive monthly profits on top of the principal amount invested. She also promised him cash totalling more than S$100,000 by the end of the contractual period. The court heard that 40-year-old Julaiha issued two cheques to Mr Chia in August that year but both were dishonoured. She became uncontactable shortly after that. Julaiha's other client was 42-year-old Mr Mustafa Kamal Sidek who gave her S$50,000 to trade with between April and August last year. He did not hear from her during this...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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