SINGAPORE – A Magician‑turned‑Fraudster Gets His Guilty Plea
Late last week, 37‑year‑old S. Chandran surrendered to the courts after a whirlwind five‑day trial. The man who once dazzled classrooms as an IT instructor took his expertise to a new arena—conjuring up $1.1 million in bogus claims under Singapore’s Productivity and Innovation Credit (PIC) scheme.
The Rip‑Off That Unfolded
- Targeted 49 applicants between 2013 and 2014
- Produced fictitious claims totaling $1.1 million
- The Inland Revenue Authority of Singapore (IRAS) handed out $876,684 in real money
- Chandran pocketed half of the cash—he claimed a clean half‑share in the payout
Chandran’s brush‑stroke of deceit involved helping companies sneak past the scheme’s rules: companies must hire at least three local staffants to qualify for PIC cash payouts. Through his front‑line consultancy—Paradize Consultancy—he slipped through the cracks and pushed the tax relief systems into the wrong hands.
Legal Wrangles and the Swing‑Back
On Friday, the court heard Chandran plead guilty to 18 counts under the Income Tax Act. The judge will weigh a further forty similar charges when handing down his sentence.
He’s currently out on bail of $200,000 and will return to court on January 11 for the sentencing phase.
About the PIC Scheme
The PIC initiative was born to give companies a financial nudge toward boosting productivity and sparking innovation. Think of it as a tax break or a cash bonus for anyone who invests in staff training, IT upgrades, or automation gear. It’s a tidy way to keep businesses moving forward.
But people like Chandran can remind us that it takes a skilled magician—or a crafty con artist—to turn good intentions into sour lemons.
— Originally posted in The Straits Times. Reproduction requires permission.
