2 Prudential Insurance Agents Charged for Obstructing Course of Justice During Investigation, Created False Records & Provided False Information to MAS
19th May 2022 | Singapore
2 Prudential Assurance insurance agents (Yuen Pui Leng Eunice and Tan Zhen Zhi Grace) had been charged under the Financial Advisers Act (FAA) for obstructing the course of justice during investigation, and by creating false record and providing false information to the Monetary Authority of Singapore (MAS). On 14th September 2018, Yuen Pui Leng Eunice who was notified to attend an interview with MAS for an ongoing investigation, is alleged to have caused Tan Zhen Zhi Grace (supervisor) to create false entries in Prudential coaching forms (required as supervisor), with the falsified coaching forms subsequently provided to MAS. Yuen Pui Leng Eunice had also intentionally deleted messages from her mobile phone, knowing that the information will likely be part of its investigation. Yuen Pui Leng Eunice is facing 6 charges under the FAA, and is also being charged under the Penal code. Tan Zhen Zhi Grace is facing 2 charges under FAA for wilfully making false entries in documents.
“ 2 Prudential Insurance Agents Charged for Obstructing Course of Justice During Investigation, Created False Records & Provided False Information to MAS “
The Charges
For each charge of section 85(1)(a) Ms Yuen and Ms Tan face a fine not exceeding $100,000 or imprisonment for a term not exceeding 2 years, or both. For each charge of sections 76(2) and 71I(3) of the FAA, Ms Yuen and Ms Tan face a fine not exceeding $50,000 or imprisonment for a term not exceeding 2 years, or both. If convicted of the charge under section 204A of the PC, Ms Yuen faces imprisonment for a term of up to 7 years, or a fine, or both.
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