Singapore Accountant Ordered to Pay $119,490 Over Uninvested $8.5 Million

1 articles · Updated · HRD America · Jul 21

A district judge on July 17 ordered the accountant to compensate her employer $119,490 after finding she failed to place about $8.5 million in fixed deposits between December 2023 and May 2024.
The court held the task was contractually binding because her supervisor assigned it in 2023 and the employee handbook required compliance with lawful, reasonable instructions, even though her pre-interview job description did not mention fixed deposits.
Financial summaries falsely showed the money in a five-month deposit, and after a discrepancy was flagged she altered a bank statement to show $8,950 instead of more than $8.5 million, leading the judge to find dishonesty rather than mere negligence.
The company discovered the lapse only after she resigned, when a bank called to ask whether it still wanted to proceed with the deposit.
Damages reflected roughly $122,000 in lost interest minus about $2,700 later earned on a replacement deposit, and the ruling underscores that supervisor-assigned duties can become enforceable contractual obligations.