Indonesian woman misappropriates nearly $140k from S’pore pre-owned luxury bag shop
An Indonesian woman who ran a second-hand luxury bag business in the Central Business District (CBD) sold customers’ bags but misappropriated the proceeds, cheating five people of nearly $140,000 in total.
According to Shin Min Daily News, the Indonesian national Ringga Dwi Rizky Irianto, 36, was sentenced to eight months’ jail on August 15 and was ordered to repay $91,950 to the victims.
She faced five charges of criminal breach of trust. She admitted to three charges, with the remaining two taken into consideration for sentencing.
At the time of the offences, Irianto was the owner of West Closet, a business that bought and sold luxury bags. Its shop was located at OUE Downtown Gallery on Shenton Way.
Company operated on consignment basis
Investigations revealed that the company operated on a consignment basis, under which customers handed their items to the retailer to sell on their behalf. The retailer would then take a portion of the sale proceeds as commission.
If the items were not sold within the stipulated period, they would be returned to the customers.
Customers were required to leave their bags at the shop for at least 60 days or face a $60 penalty. For each bag sold, the company would take a commission ranging from $200 to $900.
Bags consigned include Hermès bags
On July 2, 2022, one of the victims consigned a gold Hermès Kelly 25, a Hermès Picotin and a Chanel mini bag at the accused’s shop. The victim was promised a total of $51,000 if all three bags were sold.
The victim subsequently received a notification stating that the proceeds would be deposited into their bank account within seven days of the bags being sold.
The accused eventually sold all three bags for about $51,000 in total. However, instead of handing the proceeds to the victim as agreed, she misappropriated the money to fulfil another customer’s order.
Using a similar method, the accused misappropriated $33,500 from a second victim who had consigned a Hermès bag at the shop. She also misappropriated $23,500 from a third victim who had likewise consigned a Hermès bag.
According to the charges, the accused committed criminal breach of trust involving five victims and a total of $139,750 between March and July 2022.
She was arrested in September 2022 and formally charged in 2024. She has since made partial restitution of $41,000.
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