The director of a freight-forwarding services firm was jailed for seven months after he admitted to cheating another company into...
Sometime in 2011, Eldo and Hussain hatched a plan for IGL to submit inflated quotations to Utracon for freight-forwarding services.
Subsequently, Eldo would send the marked-up quotation to Hussain at his Utracon work e-mail address. Hussain would then review it in his capacity as the company’s assistant shipping manager. Deputy Public Prosecutor Jonathan Tan said that all the marked-up amounts went to Aret. After IGL received payment from Utracon, Eldo would pass Hussain the mark-ups in cash.
Had Utracon known the truth about the pair’s arrangement, and the conflict of interest on Hussain’s part as he was employed by both Utracon and Aret, it would not have made payments to IGL, said the prosecutor.In total, Utracon was duped into paying about $417,367 to IGL.
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