Jail for man who had firm opened in his name; its bank account got over $372k in scam proceeds

SINGAPORE - A Singapore Armed Forces regular has been given a jail sentence after he agreed to help a woman incorporate a company, and had one opened under his name.

According to court documents, the bank account of the firm, called Prodigym Trading, later received at total of US$274,945 (S$372,110) in scam proceeds from March 14 to 16, 2022.

N. M. Pranesh, 25, who was the company’s sole director and shareholder, was sentenced to 11 months’ jail on Sept 24.

He was also banned from being a director of any company, and taking part in the management of any firm for a period of five years from his release date.

He had pleaded guilty to being involved in an arrangement linked to the benefits of criminal conduct.

He also admitted he had failed to exercise any supervision over Prodigym’s affairs.

The bank closed Prodigym’s account in April 2022, and the company was struck off the following year.

The Straits Times has contacted the Ministry of Defence over Pranesh’s case.

His legal woes started in January 2022, when a woman known only as “Judy” contacted him via Telegram, and asked if he was interested in helping her incorporate a company in Singapore.

Court documents stated that “Judy”, who had a Malaysian phone number, then promised to pay him $10,000 over a two-month period as part of an “investment plan”.

It purportedly involved him helping her to set up the firm to sell watches from China.

Pranesh agreed to help Judy, who contacted him a few days later to ask for the log-in details of his Singpass account.

Taking instructions from her, he shared information including his Singpass credentials with an unknown man via Telegram.

“Judy” told Pranesh to talk to a woman called Tricia Lam, a representative of an unnamed corporate service provider.

Lam told him she would be incorporating Prodigym on his behalf.

The pair had a video call on Feb 24, 2022, during which she asked him to hold up his identity card, and took a screenshot of him doing so.

According to court documents, Pranesh said “Judy” and other parties had earlier sent him a list of things to say.

He then duped Lam into believing the company was for his own use.

He also did not inform her about “Judy” being involved in Prodigym.

Later that day, he transferred $650 from his personal bank account to Lam’s company as payment for its incorporation fees.

On Feb 25, 2022, he was told that Prodigym was successfully incorporated.

Deputy Public Prosecutor Bryan Wong said Pranesh was aware that “Judy” and her associates were engaged in something illegal.

Between March 14 and 16 that year, US$274,945 in scam proceeds were transferred into Prodigym’s bank account.

The money had come from a Germany-based love scam victim, and her company.

According to court documents, Pranesh said he tried to contact “Judy” after discovering that significant sums of money were withdrawn shortly after they were deposited.

However, he could not locate her on Telegram after March 16, 2022.

The love scam victim alerted the police on July 4 that year, and Pranesh was arrested on July 16, 2025.

In mitigation, defence lawyer Jeyabal Athavan told the court his client was not the mastermind behind the offences, and had not received any remuneration.

The lawyer added Pranesh was not aware of the full extent of the offences.

Pranesh’s bail was set at $20,000, and he is expected to begin serving his sentence on Oct 1.