Ex-Sakae Holdings Director Guilty of Misappropriating S$15.8 Million

A former director of Sakae Holdings has been found guilty of misappropriating S$15.8 million from the company and providing false testimony during proceedings in the High Court.

The court determined that the individual used their position as a director to divert a significant sum of corporate funds for unauthorized purposes. The misappropriation totaled S$15.8 million, marking a substantial financial loss for the holdings company.

In addition to the financial crimes, the former director was convicted of lying in the High Court. The court found that the defendant had provided false evidence or statements during the legal process, an act that undermines the integrity of judicial proceedings.

The conviction covers both the theft of company assets and the subsequent attempts to mislead the court regarding the matter.

The case now moves toward sentencing, where the court will determine the penalties for the misappropriation of funds and the act of perjury.