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Interpol red Notice for misappropriating $88k

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Lisafuller
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Re: Interpol red Notice for misappropriating $88k

Post by Lisafuller » Mon, 26 Sep 2022 6:50 pm

malcontent wrote:
Mon, 26 Sep 2022 1:52 pm
Lisafuller wrote:
Mon, 26 Sep 2022 2:24 am
malcontent wrote:
Sun, 25 Sep 2022 10:42 am
Note it says “for misappropriating S$88,000 belonging to his client, which had been entrusted to him”.

If “the client” was you or me, I seriously doubt they would get an Interpol red notice. So, who was this client… that is the real question!
Must’ve been someone pretty powerful and important, but if that’s the case I doubt $88,000 would have meant much. Probably would have been peanuts.
Powerful & important people are often the most spiteful… it was probably just the principle of the matter, and they wanted to make sure this guy was taught a lesson.
My thoughts exactly.

Lisafuller
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Re: Interpol red Notice for misappropriating $88k

Post by Lisafuller » Mon, 26 Sep 2022 6:55 pm

PNGMK wrote:He had loan sharks after him.
Really? He must have been pretty desperate for money. Perhaps he had a gambling addiction, or was in some sort of financial trouble.

Lisafuller
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Re: Interpol red Notice for misappropriating $88k

Post by Lisafuller » Mon, 26 Sep 2022 6:57 pm

Addadude wrote:Meanwhile David Rasif is still at large. He was clearly much smarter in how he smuggled his clients' money out of SG.

https://wiki.sg/p/David_Rasif

Investigations
The Commercial Affairs Department revealed that three days before David Rasif left for Bangkok, S$11 million worth of cheques and telegraphic transfers were moved around several countries. According to The New Paper, records showed that David Rasif transferred about S$14 million to seven people, some of whom were unsuspecting accomplices to his crime. Among these exploited third-parties were a Singaporean couple who withdrew S$1.08 million for David Rasif and A. Moorthy, a former private security executive.

Jewellery spree & gold bar purchases (Singapore)
Investigations yielded that David Rasif went on a jewellery spree days before leaving Singapore. He disappeared after spending more than S$2 million on jewellery. David Rasif reportedly bought 27 pieces of jewellery from Jewel’s DeFred within a week starting from 30 May 2006. According to news reports, he bought the following items a few days before his disappearance.

On 1 June 2006, David Rasif spent S$1.65 million to purchase 47 1-kg gold bars from United Overseas Bank (UOB). The gold bars were placed in a briefcase and handed to Bernard Ong Ee Beng for “safe-keeping” at a Toa Payoh carpark. Bernard hid 28 gold bars for Rasif in his brother’s house at Kim Keat Avenue. He left the remaining 19 at accountant Lye Thiam Hock’s house. Both men were arrested on 31 July 2006 for abetting to a crime.
Crazy how he’s been able to evade capture for so long, especially considering how his daughter Jade is a well known public figure.

YYCole
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Re: Interpol red Notice for misappropriating $88k

Post by YYCole » Sat, 01 Oct 2022 10:30 pm

malcontent wrote:
Mon, 26 Sep 2022 4:50 pm
Didn’t I read somewhere that they were looking at changing the law so that when buying a property the money doesn’t flow through the lawyer’s hands?
I think the whole Conveyancing process of purchasing property is super inefficient in this day and age, just because it is used to solve a DVP problem. With blockchain, it should be seamless and more cost effective to do such transaction.

x9200
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Re: Interpol red Notice for misappropriating $88k

Post by x9200 » Sun, 02 Oct 2022 10:15 am

Wd40 wrote:
Sun, 25 Sep 2022 8:07 am
Just came across this article:
https://www.channelnewsasia.com/singapo ... st-2962441

I am kind of surprised $88k is not a lot right? It gets you Interpol lookout notice?
A lawyer is a public trust profession so this sort of criminal offense is particularly negative/damaging in the context of the society. Money is not always the driving force behind. But I am just speculating.

On the other hand, sometimes you may be surprised... I believe I read somewhere as a part of discussion on the cases when extradition was denied, that the Vietnamese police wanted to extradite one of their citizens from Poland because he stole a cow, and this was his only alleged offense.

Lisafuller
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Re: Interpol red Notice for misappropriating $88k

Post by Lisafuller » Sun, 23 Oct 2022 1:33 am

x9200 wrote:
Wd40 wrote:
Sun, 25 Sep 2022 8:07 am
Just came across this article:
https://www.channelnewsasia.com/singapo ... st-2962441

I am kind of surprised $88k is not a lot right? It gets you Interpol lookout notice?
A lawyer is a public trust profession so this sort of criminal offense is particularly negative/damaging in the context of the society. Money is not always the driving force behind. But I am just speculating.

On the other hand, sometimes you may be surprised... I believe I read somewhere as a part of discussion on the cases when extradition was denied, that the Vietnamese police wanted to extradite one of their citizens from Poland because he stole a cow, and this was his only alleged offense.
Right, it would be the equivalent of a public servant embezzling from the government.

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Re: Interpol red Notice for misappropriating $88k

Post by Lisafuller » Sun, 23 Oct 2022 1:33 am

YYCole wrote:
malcontent wrote:
Mon, 26 Sep 2022 4:50 pm
Didn’t I read somewhere that they were looking at changing the law so that when buying a property the money doesn’t flow through the lawyer’s hands?
I think the whole Conveyancing process of purchasing property is super inefficient in this day and age, just because it is used to solve a DVP problem. With blockchain, it should be seamless and more cost effective to do such transaction.
What? How does Blockchain work?

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Re: Interpol red Notice for misappropriating $88k

Post by YYCole » Sun, 23 Oct 2022 11:06 am

Lisafuller wrote:
Sun, 23 Oct 2022 1:33 am
YYCole wrote:
malcontent wrote:
Mon, 26 Sep 2022 4:50 pm
Didn’t I read somewhere that they were looking at changing the law so that when buying a property the money doesn’t flow through the lawyer’s hands?
I think the whole Conveyancing process of purchasing property is super inefficient in this day and age, just because it is used to solve a DVP problem. With blockchain, it should be seamless and more cost effective to do such transaction.
What? How does Blockchain work?
If we can digitalise/tokenise the title deed, we will be able to perform transaction of asset vs cash transfer concurrently on chain. Reason why there is a conveyancing process is so that there is a "impartial" middleman who will take the cash and the asset and transfer the cash vs asset to reduce the DVP risk.

Lisafuller
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Re: Interpol red Notice for misappropriating $88k

Post by Lisafuller » Mon, 24 Oct 2022 2:07 am

YYCole wrote:
Sun, 23 Oct 2022 11:06 am
Lisafuller wrote:
Sun, 23 Oct 2022 1:33 am
YYCole wrote:
I think the whole Conveyancing process of purchasing property is super inefficient in this day and age, just because it is used to solve a DVP problem. With blockchain, it should be seamless and more cost effective to do such transaction.
What? How does Blockchain work?
If we can digitalise/tokenise the title deed, we will be able to perform transaction of asset vs cash transfer concurrently on chain. Reason why there is a conveyancing process is so that there is a "impartial" middleman who will take the cash and the asset and transfer the cash vs asset to reduce the DVP risk.
Wow, so complex. Hard for me to wrap my head around.

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