6 insurance agents working at the same agency jailed for falsifying expense claims to evade nearly S$100,000 in taxes
SINGAPORE — Six insurance agents were jailed and penalised for tax evasion on Friday (Sept 16) after they claimed false business expenses and collectively reduced their income taxes by close to S$100,000.
The six, who used to work at the same agency, pleaded guilty to making false entries to evade tax.
They are:
• Yvonne Quah, 34, who was jailed for eight weeks and ordered to pay S$113,839 for evading S$37,946 in personal income taxes
• Lim Zhan Yi, 32, who was jailed for five weeks and ordered to pay S$83,610 for evading S$27,703 in taxes
• Chan Jun Yi, 33, who was jailed for two weeks and ordered to pay S$27,531 for evading S$9,010 in taxes
• Sherlin Chia Hee Ping, 41, who was jailed for 10 days and ordered to pay S$32,542 for evading S$10,680 in taxes
• Chanel Quah Hui Wen, 31, who was jailed for one week and ordered to pay S$14,433 for evading S$4,644 in taxes
• Jackie Tang Hong Kong, 42, who was jailed for four days and ordered to pay S$8,465 for evading S$2,655 in taxes
Court documents did not state which agency they worked for but checks online revealed that they represented Great Eastern Financial Advisers.
The Inland Revenue Authority of Singapore (Iras), which brought the charges against them, said in a statement that for the 2018 and 2019 tax assessment years, the six had claimed business expenses amounting to about S$600,000 in their income tax returns as “general expenses” and “commissions paid to introducers”.
Investigations found these to be a sham.
“The six insurance agents neither paid any 'introducer fees' to these purported introducers nor received any services from them,” Iras added.
Tax prosecutor Goh Yong Ngee said that the tax evaders were aided by two others: Former insurance agent You Yiying and Ian Chew Yen.
You, who was referred to in court documents as Kyra, had known Chew because he had previously introduced clients to her. You was friends with Tang and Chan, and became acquainted with the others through them.
The prosecutor said that Chew had fabricated documents to support the six agents’ expense claims.
With fake acknowledgement forms stating substantial amounts of “introducer fees”, Chew and Kyra recruited individuals willing to sign them and provide copies of their identity card in exchange for a token sum, the prosecutor added.
Chew would then log in to the six agents’ online tax portal accounts and file tax returns on their behalf.
Five of them — Yvonne Quah being the exception — also failed to keep supporting records for their income and allowable deductions, an offence under the Income Tax Act.
Iras said that the six agents will be referred to the Monetary Authority of Singapore for regulatory action.
Kyra pleaded guilty in May to one count of intentionally aiding tax evasion, with two similar charges taken into consideration during sentencing. She was jailed for eight weeks and ordered to pay S$113,839 the next month.
Chew’s case is pending before the courts.
Iras urged businesses and members of the public to immediately disclose any past tax mistakes. It said that it will treat such disclosures as mitigating factors when considering actions to be taken against them.
Informants who provide information or documents that lead to a recovery of evaded taxes will also be given a cash reward of 15 per cent of the tax recovered, the authority said.
“Iras will ensure that the identities of informants are kept strictly confidential,” it added.
Tax evasion carries a penalty of up to three times the amount of tax evaded. Offenders are liable to a separate fine of up to S$10,000 or up to three years’ jail, or both.
Informants who provide information or documents that lead to a recovery of evaded taxes will be given a cash reward of 15 per cent of the tax recovered, the Inland Revenue Authority of Singapore said.
Switching jobs to becoming an informant now!!!!! 🤑
AIA Singapore apologises over balloon given by agent then taken away from toddler
SINGAPORE — AIA Singapore on Wednesday (15 June) apologised over an incident in which an agent of the insurer had offered a balloon to a woman's two-year-old daughter and then took it away from her.
In response to queries from Yahoo News Singapore about the incident, AIA Singapore said, “We are sorry for the unpleasant experience. We have counselled the representatives involved in this incident.”
In a post on Monday (13 June), Facebook user Nazreen Ogisi said she was with her daughter around Century Square when she was approached by a woman who offered the toddler a penguin balloon. The woman then posed a few questions to Nazreen, who said the woman was from AIA as she had walked towards her from a booth belonging to the insurer.
“While standing she asked me a few questions and I apparently do not fit the profile for a potential customer so she said sorry I need to take back the balloon and she took it from my daughter's hand. Imagine my horror??!!” Nazreen wrote.
Nazreen said a colleague of the woman approached her and her daughter without knowing about the earlier incident. She asked Nazreen’s daughter if she wanted an elephant balloon.
Nazreen told the second woman not to “tempt” her daughter with the balloon. After consulting a manager, the woman said that she was unable to give the balloon to Nazreen’s daughter.
Calling the incident “absolutely disgusting”, Nazreen said, “Firstly, I can afford to get balloons for my child. Second, it is such a low and cheap move to entice children and lure their parents in for a marketing gimmick only to take back the balloons if the parents don't fit your dumb profile.
“If your customer service is so poor especially with regards to my child, do you think I will trust you to take care of my money to insure my life or family?”
AIA Singapore said its team has contacted the individuals involved to address their concerns.
“We have reiterated our roadshow guidelines to all our representatives and are working closely with them to ensure they adhere to the highest standards of professionalism.”
Insurance agents are a bunch of fucked up, delusional nitwits.
They enjoy lying to themselves to boost their fragile egos ("Powerful Negotiators", "Top Producers", "MDRT" crap), before proceeding to trick members of the public into purchasing toxic products.
6 insurance agents working at the same agency jailed for falsifying expense claims to evade nearly S$100,000 in taxes
SINGAPORE — Six insurance agents were jailed and penalised for tax evasion on Friday (Sept 16) after they claimed false business expenses and collectively reduced their income taxes by close to S$100,000.
The six, who used to work at the same agency, pleaded guilty to making false entries to evade tax.
They are:
• Yvonne Quah, 34, who was jailed for eight weeks and ordered to pay S$113,839 for evading S$37,946 in personal income taxes
• Lim Zhan Yi, 32, who was jailed for five weeks and ordered to pay S$83,610 for evading S$27,703 in taxes
• Chan Jun Yi, 33, who was jailed for two weeks and ordered to pay S$27,531 for evading S$9,010 in taxes
• Sherlin Chia Hee Ping, 41, who was jailed for 10 days and ordered to pay S$32,542 for evading S$10,680 in taxes
• Chanel Quah Hui Wen, 31, who was jailed for one week and ordered to pay S$14,433 for evading S$4,644 in taxes
• Jackie Tang Hong Kong, 42, who was jailed for four days and ordered to pay S$8,465 for evading S$2,655 in taxes
Court documents did not state which agency they worked for but checks online revealed that they represented Great Eastern Financial Advisers.
The Inland Revenue Authority of Singapore (Iras), which brought the charges against them, said in a statement that for the 2018 and 2019 tax assessment years, the six had claimed business expenses amounting to about S$600,000 in their income tax returns as “general expenses” and “commissions paid to introducers”.
Investigations found these to be a sham.
“The six insurance agents neither paid any 'introducer fees' to these purported introducers nor received any services from them,” Iras added.
Tax prosecutor Goh Yong Ngee said that the tax evaders were aided by two others: Former insurance agent You Yiying and Ian Chew Yen.
You, who was referred to in court documents as Kyra, had known Chew because he had previously introduced clients to her. You was friends with Tang and Chan, and became acquainted with the others through them.
The prosecutor said that Chew had fabricated documents to support the six agents’ expense claims.
With fake acknowledgement forms stating substantial amounts of “introducer fees”, Chew and Kyra recruited individuals willing to sign them and provide copies of their identity card in exchange for a token sum, the prosecutor added.
Chew would then log in to the six agents’ online tax portal accounts and file tax returns on their behalf.
Five of them — Yvonne Quah being the exception — also failed to keep supporting records for their income and allowable deductions, an offence under the Income Tax Act.
Iras said that the six agents will be referred to the Monetary Authority of Singapore for regulatory action.
Kyra pleaded guilty in May to one count of intentionally aiding tax evasion, with two similar charges taken into consideration during sentencing. She was jailed for eight weeks and ordered to pay S$113,839 the next month.
Chew’s case is pending before the courts.
Iras urged businesses and members of the public to immediately disclose any past tax mistakes. It said that it will treat such disclosures as mitigating factors when considering actions to be taken against them.
Informants who provide information or documents that lead to a recovery of evaded taxes will also be given a cash reward of 15 per cent of the tax recovered, the authority said.
“Iras will ensure that the identities of informants are kept strictly confidential,” it added.
Tax evasion carries a penalty of up to three times the amount of tax evaded. Offenders are liable to a separate fine of up to S$10,000 or up to three years’ jail, or both.
https://www.todayonline.com/singapore/insurance-agents-fake-claims-evade-taxes-1994911
AIA Singapore apologises over balloon given by agent then taken away from toddler
SINGAPORE — AIA Singapore on Wednesday (15 June) apologised over an incident in which an agent of the insurer had offered a balloon to a woman's two-year-old daughter and then took it away from her.
In response to queries from Yahoo News Singapore about the incident, AIA Singapore said, “We are sorry for the unpleasant experience. We have counselled the representatives involved in this incident.”
In a post on Monday (13 June), Facebook user Nazreen Ogisi said she was with her daughter around Century Square when she was approached by a woman who offered the toddler a penguin balloon. The woman then posed a few questions to Nazreen, who said the woman was from AIA as she had walked towards her from a booth belonging to the insurer.
“While standing she asked me a few questions and I apparently do not fit the profile for a potential customer so she said sorry I need to take back the balloon and she took it from my daughter's hand. Imagine my horror??!!” Nazreen wrote.
Nazreen said a colleague of the woman approached her and her daughter without knowing about the earlier incident. She asked Nazreen’s daughter if she wanted an elephant balloon.
Nazreen told the second woman not to “tempt” her daughter with the balloon. After consulting a manager, the woman said that she was unable to give the balloon to Nazreen’s daughter.
Calling the incident “absolutely disgusting”, Nazreen said, “Firstly, I can afford to get balloons for my child. Second, it is such a low and cheap move to entice children and lure their parents in for a marketing gimmick only to take back the balloons if the parents don't fit your dumb profile.
“If your customer service is so poor especially with regards to my child, do you think I will trust you to take care of my money to insure my life or family?”
AIA Singapore said its team has contacted the individuals involved to address their concerns.
“We have reiterated our roadshow guidelines to all our representatives and are working closely with them to ensure they adhere to the highest standards of professionalism.”
https://sg.news.yahoo.com/aia-singapore-apologises-balloon-staff-toddler-155127920.html
Steer clear of these assholes period, never give them a chance to prey on your fears. Ever.
These days it appears insurance agents like to call themselves "talent acquisitors". ;)
Samster says Sunshine Empire is cheating folks again, MAS koonz siboh ????
Tats on forearm = damaged goods.
老婆住院了他还只顾着卖保险, 真的没人性!
Insurance agent's wife is hospitalized, guess what was the very first thing he did? Leveraging her unfortunate predicament to make a sales pitch.
She does look kinda fragile lol. Her English really CMI, fourth can spell as forth.
Orbigoot! Insurance agent gets scolded for pestering folks to buy insurance on Facebook
Insurance agents aka financial consultants are vermin in my dictionary.
All insurance agents are scum except her. :P
https://www.instagram.com/jocelynkau/
Insurance agents are a bunch of fucked up, delusional nitwits.
They enjoy lying to themselves to boost their fragile egos ("Powerful Negotiators", "Top Producers", "MDRT" crap), before proceeding to trick members of the public into purchasing toxic products.
Calling them scums is a gross understatement IMO.
Fear not, the advent of technology will one day render the insurance profession completely obsolete, and that day is arriving soon.
Not all are scum, then again most are. And they deserve to burn in hell for an eternity.