Indian-Origin Banker Kale Jagdish Purushottam Jailed For Cheating Clients

Singapore: An Indian-origin banker has been sentenced to 13 years in jail in Singapore after he pleaded guilty to 20 forgery and cheating-related charges, and another 30 charges under the Computer Misuse Act for $10 million. Kale Jagdish Purushottam, 43, was sentenced on Thursday. Another 503 similar charges were taken into consideration during his sentencing, the Straits Times reported. In an attempt to pay back his former clients, Kale Jagdish Purushottam had forged signatures and documents to siphon $10 million from his present clients’ Barclays bank accounts between June 2010 and January 2013. During this time, he was working as a private banker in Barclays. He then made more unauthorized transactions to recover and replace the sum but ended up with extra losses of $10 million instead, the report said. Deputy Public Prosecutor (DPP) Ng Jean Ting said Purushottam agreed to pay Red Oak $4 million to avoid a legal case. However, the man paid the firm with money from his Barclays clients’ bank accounts. (IANS)

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