Financial adviser charged over SG$185,000 fraud

Suspect allegedly modified insurance documents to guarantee higher-than-usual returns

Financial adviser charged over SG$185,000 fraud

Insurance News

By Gabriel Olano

A former financial planner has been charged for allegedly cheating seven clients out of a total of SG$185,000 by leading them to believe an insurance product had higher than actual returns.

Singapore permanent resident Daniel Ross Harland, 32, is accused of altering several documents to mislead his victims, who each transferred between SG$5,000 and SG$80,000 to his bank account, the Straits Times reported.

According to the report, Harland allegedly modified documents for Prudential’s PRUinvestor Guaranteed Plus policy. His LinkedIn profile also showed that he had worked for the insurer from November 2016 to July 2018.

Two of the alleged victims said that they were promised investment returns of 20% by Harland, court documents showed. Meanwhile, the other five victims said that they were guaranteed a return of 10%.

Harland was arrested by officers from the Central Police Division on August 14. He posted bail of SG$15,000, and will be summoned to appear in court on September 24. If convicted of the cheating charges, Harland faces up to 10 years in jail plus hefty fines.

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