Director of car company arrested after allegedly failing to fulfil sales agreements of over $1m
A car company allegedly failed to fulfil sales agreements with numerous customers, with proceeds amounting to more than $1 million.
Preliminary investigations revealed that between June 2024 and January 2025, victims would engage the services of the firm to purchase or sell their cars.
The company's director allegedly deceived several victims by facilitating with the sales agreement of vehicles, only to misappropriate the funds by not following through with the transfer of the car ownerships.
He purportedly failed to fulfill sales agreements which resulted in victims not receiving sales proceeds.
Police received several reports about the company between October 8, 2024, and April 1, 2025.
On April 2, the police said they arrested a 46-year-old man for his suspected involvement in a case of criminal breach of trust.
A notebook, a handphone and a stack of documents were seized as case exhibits.
The man was charged in court on April 3 for the offence of criminal breach of trust as a director, which carries a jail term of up to 20 years and a fine.
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