Hu Qingjun worked for a company that did not carry out genuine investments and he followed instructions to create a fake legal letter to be sent to investors because he wanted to keep his job.
SINGAPORE: Even though it was clear to him that his employer did not carry out genuine investments, a man continued working for the company, even going so far as to forge a letter on his supervisor’s instructions.
Hu Qingjun, 42, created a fake letter that looked as if it was issued by prominent law firm Rajah & Tann.
The Singaporean was sentenced to four weeks’ jail on Wednesday (Jun 18) after pleading guilty to a forgery charge.
Hu worked for a company known as Titan Technologies between 2023 and March 2024 and he reported to a man known as “Jay”.
As far as Hu knew, the company operated a project that used artificial intelligence to carry out foreign-exchange cryptocurrency and commodities trading activities.
Under the project, a company known as “TitanFX” acted as a fund manager to secure investors, while another known as “Vlado Brokers” acted as a broker for TitanFX.
Vlado Brokers and TitanFX operated in Bangladesh, China, India, Malaysia, Thailand and Vietnam.
As part of his job, Hu gave virtual and in-person presentations to investors on the use of artificial intelligence in TitanFX.
However, as time went on, he grew suspicious about Titan Technologies’ activities. He suspected that the company was not carrying out genuine investments after learning that the chief trader was not handling the trading activities.
In November 2023, Hu learned that investors were not receiving investment returns.
At the same time, it became clear to him that the company was not carrying out authentic investments. Jay was trying to hide from investors that they would not be receiving the expected investment returns.
However, Hu remained in the company because he still wanted his salary.
Around that same period, on Jay’s instructions, Hu informed investors that Vlad Brokers’ funds were frozen, TitanFX would be renamed Solid Edge and a new broker would be appointed.
In March last year, Jay told Hu to forge a legal letter under the name of one of the top law firms in Singapore to give the impression that TitanFX had engaged a lawyer to chase Vlado Brokers for money.
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