Staff suspended after $5 million goes missing from co-op's accounts

[Lancelot]

SINGAPORE - The Singapore Statutory Boards Employees' Co-operative Thrift and Loan Society said that it has suspended two staff after discovering in October last year that they had misappropriated the co-operative's funds. About $5 million has been reported missing from its accounts. Police confirmed on Friday that a report had been lodged and said they are looking into the matter. Members of the co-op were informed of the missing funds at its annual general meeting on Saturday morning at the Singapore Khalsa Association. - See more at: http://www.straitstimes.com/news/singapo...wlXUR.dpuf

http://www.straitstimes.com/news/singapo...o-ops-acco

[yenyenpark]

very rich....

[opmi]

Co op thrifts take deposits from members.
I think jialat Liao. Unless NTUC come and support.

[GPD]

Wow unbelieveable. $5mil can missing just let that? I admit I can lost trace of where and when I spent that $2 or $5 but quite unlikely for me to forget what I last put that $5mil (ok $50).