SINGAPORE – The former chief executive officer of a healthcare startup has been charged for multiple offences, including allegedly asking his staff to falsify company invoices claiming they had offered services worth millions to the Ministry of Health (MOH).
On Feb 4, Rajput Kuldeep Singh Vithal Singh, who was also a former director of Biofourmis Holdings, was handed seven charges in a district court.
This includes three counts of abetting the falsification of accounts, three charges of fraud by false representation or abetment of the offence, and one count of forgery for the purpose of cheating.
Police said between Aug 18, 2021 and Feb 28, 2022, the 34-year-old Indian national had allegedly instigated his staff to falsify company invoices purporting that Biofourmis Singapore had rendered services worth US$16,491,375 (S$20,941,600) to MOH.
Charge sheets state that the invoices were for services relating to the Biovitals Sentinel Platform, which remotely monitors patients and provides clinicians with their vital signs, according to past reports.
Between March 28 and Apr 25, 2022, Rajput allegedly made, and also instigated others to make, false representations about Biofourmis Holdings and its subsidiaries.
The representations involved false revenue figures and financial statements, and claims that “discussions with the MOH on payment are ongoing”, according to charge sheets.
He had also purportedly forged an employee stock option plan offer letter on Nov 29, 2022, intended to cheat DBS Bank into transferring funds.
Rajput, who is represented by Mr Faraaz Amzar from Eugene Thuraisingam LLP, indicated in court on Feb 4 that he does not intend to plead guilty.
He is currently out on $600,000 bail. His case is scheduled for a pre-trial conference on April 1.
If convicted of fraud by false representation or abetting it, Rajput could be jailed up to 20 years, fined, or both for each charge.
The offence of falsifying accounts or its abetment carries maximum 10 years’ jail, fine, or both for each charge.
Those convicted of forgery for the purpose of cheating may also be jailed up to 10 years and fined.
