Fullerton Health Co-Founders Fined for False Expense Claims

The co-founders of Singaporean healthcare brand Fullerton Health have been fined for submitting and approving false entertainment expense claims. Dr. Daniel Chan Pai Sheng, the company's deputy group CEO, was fined S$135,000 (approximately US$104,600) for multiple instances of submitting false or inflated receipts for entertainment expenses. These offences involved over S$253,000 in falsified sums.

Dr. Michael Tan Kim Song, the company's group CEO, received a S$25,000 fine for approving more than S$82,000 of Dr. Chan's falsified claims. In one instance cited, Dr. Chan had incurred 200,000 yuan (about S$42,512 at the time) in expenses, but the claims submitted were inflated.

While bribery charges against both men, which also implicated a former colleague and the CEO of insurance broker Aon Singapore, were dropped with a discharge not amounting to an acquittal, the financial misconduct led to significant penalties. The prosecution had sought higher fines, S$140,000 to S$150,000 for Dr. Chan and S$30,000 for Dr. Tan, while the defense argued for lower amounts.

District Judge Chay Yuen Fatt noted that Dr. Chan submitted his falsified claims knowing they would be approved by colleagues, including Dr. Tan and former director David Sin. The judge highlighted that the group's ability to approve business expense claims without finance team oversight made their activities difficult to detect. Although the offences did not warrant prison sentences, the judge rejected claims that Dr. Chan acted solely on instructions, emphasizing his admission to orchestrating the falsified receipts. Dr. Tan's role in approving inflated claims, partly to provide financial assistance to Aon Singapore's former CEO, was also deemed critical.