14 months’ jail for promoter of PIC scam

8 Jan 2020

Loh Gai Kuang Dezmond (“Loh”), a 47-year-old former director of Bedezzled Media Pte Ltd, was convicted of three counts for submitting false information to the Comptroller of Income Tax in order to obtain Productivity and Innovation Credit (PIC) cash payouts and bonuses totalling $171,600. 

The Court sentenced Loh to 14 months’ jail and ordered to pay a penalty of $686,400, being four times the amount of the various cash payouts and bonuses wrongfully obtained/claimed. Seven other similar charges involving fraudulent PIC claims of $373,509 were taken into consideration by the Court.  

Chang Lee Wong (“Chang”), the company director of 51 Soya Bean Curd Pte Ltd who was recruited into Loh’s scam, was convicted on 25 April 2019 and ordered to pay a penalty of $103,200 and a fine of $5,000 for making a fraudulent PIC claim in January 2014.


Severe Penalties for Abusing the PIC Scheme

IRAS takes a serious view of any attempt by claimants, vendors or consultants to defraud the government. Offenders convicted of PIC abuse will have to pay a penalty of up to four times the amount of cash payout fraudulently obtained, and a fine of up to $50,000 and/or imprisonment of up to five years.


Reporting of Malpractices

Businesses that wish to report malpractices or potential abuses of the scheme can write to:

Inland Revenue Authority of Singapore
Investigation & Forensics Division
55 Newton Road, Revenue House
Singapore 307987

Email: ifd@iras.gov.sg

 

Inland Revenue Authority of Singapore