ABC News: Top Stories | Telecom company execs hit with $20M fraud charges in first case of self-reporting

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Senior personnel at Telekom Malaysia’s U.S. subsidiary have been charged in New York with a “calculated embezzlement scheme” that siphoned more than $20 million through false statements, forged records, fictitious transactions and impersonations of suppliers, auditors and employees. Mohd Hafiz Lockman, Mohd Yuzaimi Yusof and Khanh Thuong Nguyen are accused of wire‑fraud conspiracy, wire fraud and aggravated identity theft for selling broadband capacity without authorization, intercepting supplier payments, capturing employee salaries and submitting fabricated expense reimbursements—including a bogus Las Vegas work‑trip claim. The fraud was self‑reported by Telekom Malaysia to the Manhattan U.S. attorney’s office, allowing the corporation to receive a conditional declination of charges after cooperating, paying restitution and agreeing to future reporting, while the three executives were taken into custody, released on bond and have yet to enter pleas.

Read more: https://abcnews.com/US/telecom-company-executives-hit-20m-fraud-charges-new/story?id=133193163

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