A FORMER AIA insurance agent who allegedly sold a fake US$5
million (S$6.2 million) insurance policy is facing fraud and
cheating charges, including using forged documents.
The charges were laid against Sally Low Ai Ming, 34, at the
Subordinate Court last Friday and bail set at $2 million. She
failed to raise the cash and was remanded at Changi Women's
Prison.
She broke down when she appeared in court yesterday to ask that
the bail be reduced to $200,000. Her mother also cried. Bail was
revised to $300,000 but Low has to surrender her passport and
report weekly to the authorities.
The charges - four of cheating, 11 of fraudulent use of forged
documents and four of moving crime proceeds to bank accounts and to
partially pay for a property - stem from a police report made more
than a year ago by a customer who bought a fake 'AIA Thank You'
policy from Low in November 2002.
Low allegedly told semi-retired businessman Ong Han Ling, 72,
that he could apply for the policy when she knew such a product did
not exist. The act of deception led him to remit US$5.06 million to
AIA, according to the charge sheet.
Low also allegedly told Mr Ong that two computer errors at AIA
caused three policies to be issued in his name and that of his
wife. It is claimed that Low then caused these policies to be
surrendered and the three sums - about US$5.29 million, US$1
million and $1 million - were delivered to her on behalf of AIA.
There were in fact no computer errors.
-- ST