Stamford Tyres Gets Stung by Fraud

Singapore company, Stamford Tyres, has discovered fraudulent acts committed by an employee responsible for its Brunei, Sarawak and Labuan markets, according to a report from Channel News Asia.

No names were given, said the news source, but the company has lodged a police report.

The loss arising from the fraud is estimated at S $500,000 (£159, 950). The company has insurance coverage for fraud and dishonesty by its employees to a limit of S$250,000 says the report.