David Rasif

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David Rasif
David Rasif Photograph Collage.png
Born1964
EducationBachelor of Laws
Alma materNational University of Singapore (NUS)
ChildrenJade Rasif, Tyen Rasif, Khym Fong

David Rasif (born 1964) is a fugitive Singaporean lawyer wanted for misappropriating money. In June 2006, he took off with $11.3 million of his clients’ money, the largest sum misappropriated at the time.[1] The rogue lawyer escaped Singapore before his crimes were discovered. Before leaving the country, David Rasif used the money on gold bars and jewellery. He also distributed the money among various countries such as Hong Kong, Vietnam and Singapore.[2] He is 1 of the 18 most wanted Singaporean criminals on Interpol’s list for misappropriating money.[3] David Rasif is Tyen and Jade Rasif's biological father.[4]

Background

David Rasif and Joyce Fong pictured in April 2006. Photos from The Malaysian Bar.

David Rasif was last seen in Singapore on 2 June 2006 having lunch with a colleague from his law firm. He told his colleague that he was leaving for Bangkok later that day.[5] He was last seen in Bangkok on 5 June 2006 by his wife, Joyce Fong. He had accompanied her to Bangkok for a company function. It is understood that the couple did not travel together. David Rasif did not accompany his wife back to Singapore, saying that he had to go to Japan to meet a client instead.[6]

Family

David Rasif was married to his high school sweetheart Joyce Fong Foong Chao, a former NUS Students Union (NUSSU) pageant Queen[7] and a Corporate Governance Advisor for Asia Pacific and Australasia at World Vision as of 2019.[8] Together, the couple has three daughters, DJ Jade Rasif, bodybuilder Tyen Rasif and student Khym Fong.[9] Following their divorce, Joyce Fong has sole custody over their three daughters and was entitled to a $1.5 million maintenance claim from her ex-husband.[10] As reported in 2013, the family lived in a condominium unit at Trellis Tower, Toa Payoh while owning another unit at Costa Rhu.[11]

Joyce Fong (left) pictured with her second daughter, Tyen Rasif (right). Retrieved from source.

Divorce

Joyce Fong filed for divorce shortly after her husband ran away.[12] She told The Straits Times that on 5 June 2006, she received calls from David Rasif’s law firm looking for him. She also received apologetic text messages from her husband in which he promised to explain the situation to her. Joyce Fong was also questioned by the media about a 28-year-old female who was allegedly David Rasif’s younger girlfriend from a bar in Tanjong Pagar. Joyce Fong said her daughters were “extremely disgusted” as David Rasif had introduced the woman to them before.[13] Joyce Fong reportedly received a letter from her husband stating that “our life together is over” and “Goodbye forever” with cheques dedicated to their daughters. These cheques were handed over to the Commercial Affairs Department.

Education

A younger David Rasif. Photo from Jade Rasif's Ask.fm.

David Rasif graduated from the National University of Singapore (NUS) with a Bachelor of Laws in 1989.[14] He was subsequently qualified to practise law in 1990. From 1985 to 1989, David Rasif was part of the Kent Ridge Hall Band called the K R Rockers.[15] A performer, David Rasif participated in the Starburst 5 annual concert in 1988[16] and was a former contestant in Talentime.[17]

Law career

Following his disappearance, several of David Rasif's acquaintances were approached to give their insight on the fugitive's character. David Rasif’s lawyer, T.U. Naidu told Channel News Asia that he is a “hardworking and conscientious” lawyer. An ex-classmate who studied law with David Rasif in NUS said that he is a “decent guy”. However, he also believed that David Rasif “was smart enough to pull off something like this”.[18]

David Rasif & Partners (1995 - 2007) - Founder

David Rasif was the sole proprietor of the law firm, David Rasif and Partners.[19] First established in 1995 at People’s Park Centre, the firm later relocated to a bigger office by Carpenter Street. David Rasif and Partners provides legal services for the automotive, entertainment, financial, real estate and retail industries. His firm’s legal staff earned between S$350 to S$400 per hour.[20] The Law Society Singapore shut down David Rasif’s law firm in 2007.[21] David Rasif was also barred from practising law after the Law Society Singapore filed a complaint against him. In court, lawyer Tan Chuan Thye said the disciplinary committee charged David Rasif for “gross improper conduct".[22] Justice Andrew Phang also said that David Rasif showed “an utter lack of integrity, and honestly… an appalling greed that caused him to take from others what was lawfully and rightfully theirs”.[23]

Association of Criminal Lawyers of Singapore (ACLS) - Member & group secretary

David Rasif was a member and the group secretary of the Association of Criminal Lawyers of Singapore (ACLS). ACLS is an organisation that promotes the interests and development of criminal law in Singapore.[24] David Rasif attended an ACLS members meeting two weeks before his disappearance.[25] Mr Subhas Anandan, the first President of the association said that David Rasif showed no suspicious behaviour that day. In his words:

“He had a lot of suggestions and even spoke to his daughter on the phone, asking her not to stay awake for him as he would be watching a late movie.”[26]

Disappearance

According to the lawyer Edmond Pereira, David Rasif’s disappearance was presumably something that he had planned.[27] He said that David Rasif knew that Thailand was not in an extradition treaty with Singapore. This meant that Thailand can reject arresting and sending him back to Singapore.[28] David Rasif had once worked for Edmond Pereira, the Executive Director of Edmond Pereira Law Corporation and a former deputy public prosecutor and State Counsel in the Attorney General’s Chamber.[29]

Irregularity report (6 June 2006)

On 6 June 2006, staff from David Rasif’s law firm lodged a report for “irregularities”. They had discovered missing funds from David Rasif clients' accounts. They also reported that Rasif was uncontactable.[30] David Rasif reportedly gave his staff “one-off” bonuses before he fled the country. He also informed them that he wanted to close the law firm.[31] According to a former staff, this was the first and only time he received a bonus in five years.[32]

Investigations

The Commercial Affairs Department revealed that three days before David Rasif left for Bangkok, S$11 million worth of cheques and telegraphic transfers were moved around several countries.[33] According to The New Paper, records showed that David Rasif transferred about S$14 million to seven people, some of whom were unsuspecting accomplices to his crime.[34] Among these exploited third-parties were a Singaporean couple[35] who withdrew S$1.08 million for David Rasif and A. Moorthy, a former private security executive.[36][37]

Jewellery spree & gold bar purchases (Singapore)

Investigations yielded that David Rasif went on a jewellery spree days before leaving Singapore. He disappeared after spending more than S$2 million on jewellery.[38] David Rasif reportedly bought 27 pieces of jewellery from Jewel’s DeFred within a week starting from 30 May 2006. According to news reports, he bought the following items a few days before his disappearance:[39]

Date Items Bought Location of Transaction
1 June 2006 S$1 million worth of jewellery Cafe in Mandarin Hotel
2 June 2006 Two 10-carat diamonds Carpark near his home
One 16-carat blue sapphire
Three other gemstones

On 1 June 2006, David Rasif spent S$1.65 million to purchase 47 1-kg gold bars from United Overseas Bank (UOB). The gold bars were placed in a briefcase and handed to Bernard Ong Ee Beng for “safe-keeping” at a Toa Payoh carpark.[40] Bernard hid 28 gold bars for Rasif in his brother’s house at Kim Keat Avenue. He left the remaining 19 at accountant Lye Thiam Hock’s house. Both men were arrested on 31 July 2006 for abetting to a crime.[41]

Money laundering (Vietnam)

In May 2006, David Rasif asked his long-time friend, Freddy Lim Soon Kiang to open a bank account in Vietnam. He then transferred US$620,000 (~S$985,180) from a client’s account to the bank in Ho Chi Minh. On 1 June 2006, Freddy Lim withdrew US$600,000 over two days.[42] Freddy Lim stayed at the Luxury Sofitel Plaza hotel in Ho Chi Minh where he would pass US$500,000 in cash to man named “Nick Leong”. Although David Rasif had asked Freddy to transfer the remaining money back to Singapore, Freddy closed the account and kept US$88,650 for himself.[43][44] David Rasif's former clients, George and Kaori Zage filed a multi-million lawsuit against Freddy Lim. In June 2007, he represented himself in court and pleaded for the charges to be dropped.[45] Freddy Lim then disappeared and has been at large since November 2007. According to TODAY, he sold his pub, Actors' Bar and also owed money to multiple parties. He sent a letter to the new owners of Actors’ Bar saying “here, there, everything (sic) asking me for money… Too much pressure (sic) that I had to run away from it all. Sorry!”.[46]

Shell company (British Virgin Islands)

In December 2005, David Rasif registered a company called Ingenious Ideas International on the British Virgin Islands. He then opened a bank account in Hong Kong under that company’s name. On 1 June 2006, David Rasif wired $4.13 million (HK$20 million) to the account. It is believed that Ingenious Ideas International was a shell company since no staff from the company showed up at the Hong Kong hearing.[47][48]

Property cashback scam (2004)

David Rasif was also investigated for a property cashback scam that started in 2004 where S$$1 million had been pocketed by several parties over the sales of 22 properties.[49] A cashback scam is when a property agent overvalues the price of a property to both the buyers and sellers or their agent. A total of 22 people were charged for the following:

Charge No. of People Charged Refs.
Conspiring to cheat banks or the CPF board 15 [50]
Providing false information to the Commercial Affairs Department 3
Both of the above 4

Among the people involved were the lawyers David Rasif and David Tan, and the property agent Goh Chong Liang.[51] Goh, a former director of a real estate company, conspired with Rasif and Tan to overvalue the price of a flat to a buyer.[52] Goh inflated the housing price by including "costs of renovation" from a shell company. It is understood that Goh played a part in setting up the shell company.[53] Peter Fernando, Goh’s defense lawyer, claimed that David Rasif was the brains behind the scam operations. Goh claimed that when investigations started in 2005, Rasif had him forge the documents used to trick Commercial Affairs Department (CAD) investigators. While David Tan was given a five years and five months jail term, Goh Chong Liang was charged to five years in jail.[54]

Victims

David Rasif had swindled a variety of people, most notably the married couple - George and Kaori Zage.

George Raymond Zage III & Kaori Kathleen Zage

Of the S$11.3 million Rasif absconded with, more than S$10 million came from George Zage and Kaori Zage.[55] Mr and Mrs Zage met Rasif in 2005 when they were looking to purchase a bungalow on Belmont Road. On 23 May 2006, Mrs Zage wrote a $10.7 million cheque to Rasif for him to complete the property transaction.[56] She told Justice Woo Bih Li in a court hearing that she was comfortable and trusted Rasif with her money.[57] In July 2006, Mr and Mrs Zage requested in court for Jewel’s Defred to freeze $2.08 million worth of assets. This amounts to what Rasif had given the jewellery dealer using the couple’s money.[58] Mr and Mrs Zage lost the lawsuit against Jewel DeFred and its owner, Fred Ho Chi Kwong.[59] The couple also obtained an interim court order to freeze the $4 million that Rasif had wired to the Hong Kong bank on 1 June 2006. On 29 October 2006, the Hong Kong court said that they will return $4.13 million to the American couple.[60]

56 other claimants

Other than the Zages, businessman Prakasa Alim and his friend, Madam Ang Tjien Hue (alias Adikoesoemo Fify Dewi) also lost $445,500 of their buyer’s deposit to Rasif. Rasif was helping the two Indonesians to sell their condominium unit in Four Seasons Park however, he failed to hand over the 10% deposit.[61] After news of his disappearance, the Indonesians filed a lawsuit against Rasif. Including Mr Prakasa, six others have lost about $2 million.[62] After further investigations, $7.4 million of the absconded money was recovered and declared to be returned to some 56 parties.[63]

References / Citations

  1. ↑ Yeoh, Wee Teck. “Fugitive David Rasif’s daughter is New Face first runner up”. The New Paper. October 25, 2013. Accessed 27 November 2019. Retrieved from NewspaperSG.
  2. ↑ K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. The Straits Times. March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html
  3. ↑ Law, Elizabeth.“Singaporeans on the run: 18 on Interpol’s wanted list”. The New Paper. April 6, 2015. Accessed 27 November 2019.
  4. ↑ Yeoh, Wee Teck. “Fugitive David Rasif’s daughter i s New Face first runner up”. The New Paper. October 23, 2019.  Accessed 27 November 2019. Retrieved from NewspaperSG.
  5. ↑ Balvinder Sandhu. “Financial Fraud: Money scams, embezzlement and swindles in Singapore”. Marshall Cavendish International Asia Pte Ltd. April 20, 2013. Accessed 29 November 2019.
  6. ↑ “Left in the lurch, wife divorces Rasif; She is trying to pick up the pieces after lawyer fled with $10 million of clients’ money.” TODAY. October 4, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.
  7. ↑ “LawLink”. NUS Law School. Accessed 28 November 2019.
  8. ↑ “Joyce Fong Profile”. LinkedIn. Accessed 28 November 2019.
  9. ↑ “The rocker who fooled everybody”. Channel News Asia. June 9, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.
  10. ↑ Fong, Tanya. “Rasif’s ex-wife gets custody of her children”. The Straits Times. November 1, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG.
  11. ↑ Balvinder Sandhu. “Financial Fraud: Money scams, embezzlement and swindles in Singapore”. Marshall Cavendish International Asia Pte Ltd. April 20, 2013. Accessed 29 November 2019.
  12. ↑ “Left in the lurch, wife divorces Rasif; She is trying to pick up the pieces after lawyer fled with $10 million of clients’ money.” TODAY. October 4, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.
  13. ↑ “Left in the lurch, wife divorces Rasif; She is trying to pick up the pieces after lawyer fled with $10 million of clients’ money.” TODAY. October 4, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.
  14. ↑ “Alumni Directory”. National University of Singapore. 1989. Accessed 28 November 2019.
  15. ↑ “K R Rockers Alumni”. Kent Ridge Hall Rockers. Accessed 28 November 2019.
  16. ↑ “David Rasif at campus concert”. New Paper. December 9, 1988. Accessed 28 November 2019. Retrieved from NewspaperSG.
  17. ↑ “LawLink”. NUS Law School.  Accessed 28 November 2019.
  18. ↑ “The rocker who fooled everybody”. Channel NewsAsia. June 9, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.
  19. ↑ "ANNEX A INFORMATION ON LAWYERS WHO ABSCONDED WITH CLIENTS' MONEYS". Ministry of Law Singapore. Accessed on 10 December 2019.
  20. ↑ Balvinder Sandhu. “Financial Fraud: Money scams, embezzlement and swindles in Singapore”. Marshall Cavendish International Asia Pte Ltd. April 20, 2013. Accessed 29 November 2019.
  21. ↑ “Left in the lurch, wife divorces Rasif; She is trying to pick up the pieces after lawyer fled with $10 million of clients’ money.” TODAY. October 4, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.
  22. ↑ Ng, Ansley. “David Rasif struck off roll”. TODAY. November 16, 2007. Accessed 27 November 2019. Retrieved from NewspaperSG.
  23. ↑ Chong, Chee Kin. “No honour, no integrity, no honesty”. The Straits Times. February 5, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG.
  24. ↑ “ACLS”. Facebook. Accessed 28 November 2019.
  25. ↑ Dara Waheda Mohd Rufin. “Missing lawyer case shocks singapore CJ”. The Malaysian Bar. June 8, 2006. Accessed 27 November 2019.
  26. ↑ Dara Waheda Mohd Rufin. “Missing lawyer case shocks singapore CJ”. The Malaysian Bar. June 8, 2006. Accessed 27 November 2019.
  27. ↑ “The rocker who fooled everybody”. Channel NewsAsia. June 9, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.
  28. ↑ Ibid.
  29. ↑ “The rocker who fooled everybody”. Channel NewsAsia. June 9, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.
  30. ↑ Balvinder Sandhu. “Financial Fraud: Money scams, embezzlement and swindles in Singapore”. Marshall Cavendish International Asia Pte Ltd. April 20, 2013. Accessed 29 November 2019.
  31. ↑ K.C. Vijayan. “Two others questioned”. The Straits Times. December 16, 2006. Accessed 29 November 2019. Retrieved from NewspaperSG.
  32. ↑ “Lawyer Rasif paid staff big bonuses”. The Straits Times. June 10, 2006. Accessed 29 November 2019. Retrieved from NewspaperSG.
  33. ↑ “Left in the lurch, wife divorces Rasif; She is trying to pick up the pieces after lawyer fled with $10 million of clients’ money.” TODAY. October 4, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.
  34. ↑ “American couple suing for $11m”. The New Paper. October 20, 2006.  Accessed 27 November 2019. Retrieved from NewspaperSG.
  35. ↑ K.C. Vijayan. “Unsuspecting couple helped Rasif cash $1.08 million”. The Straits Times. December 16, 2006. Accessed 29 November 2019. Retrieved from NewspaperSG.
  36. ↑ K.C. Vijayan and Teh Joo Lin. ‘Lawyer who fled: Another $6million missing”. The Straits Times. June 20, 2006. Accessed 29 November 2019. Retrieved from NewspaperSG.
  37. ↑ K.C. Vijayan. “Two others questioned”. The Straits Times. December 16, 2006. Accessed 29 November 2019. Retrieved from NewspaperSG.
  38. ↑ Ng, Ansley. “Credibility of jewellery expert questioned”. TODAY. July 28, 2007. Accessed 27 November 2019. Retrieved from NewspaperSG.
  39. ↑ Ng, Ansley. “$1m gem deal in a coffeeshop”. TODAY. June 30, 2007. Accessed 28 November 2019. Retrieved from NewspaperSG.
  40. ↑ Chong, Elena. “Man jailed for helping Rasif hide gold bars”. The Straits Times. November 19, 2007. Accessed 29 November 2019.
  41. ↑ Chong, Elena. “Man charged with helping fugitive lawyer Rasif hide 47 gold bars”. The Straits Times. October 25, 2007. Accessed 29 November 2019.
  42. ↑ K.C Vijayan. “Rasif list $108K in bed to move money”. The Straits TImes. April 2, 2007. Accessed 2 December 2019. Retrieved from NewspaperSG.
  43. ↑ K.C Vijayan. “Rasif list $108K in bed to move money”. The Straits TImes. April 2, 2007. Accessed 2 December 2019. Retrieved from NewspaperSG.
  44. ↑ Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. The Straits Times. June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.
  45. ↑ Lum, Selina. “Rasif got defendant to help move $985k to Vietnam”. The Straits Times. June 27, 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.
  46. ↑ Ng, Anlsey. “Rogue lawyer’s case: Warrant arrest for ex-pub owner”. TODAY. January 29, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG.
  47. ↑ “American couple suing for $11m”. The New Paper. October 20, 2006.  Accessed 27 November 2019. Retrieved from NewspaperSG.
  48. ↑ K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. The Straits Times. December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.
  49. ↑ Leong, Wee Keat. “22 in property cashback scam”. TODAY. August 27, 2009. Accessed 29 November 2019. Retrieved from NewspaperSG.
  50. ↑ Leong, Wee Keat. “22 in property cashback scam”. TODAY. August 27, 2009. Accessed 29 November 2019. Retrieved from NewspaperSG.
  51. ↑ Chong, Elena. “Rasif’s ex-partner hauled to court’. The Straits Times. August 15, 2008. Accessed 28 November 2019. Retrieved from NewspaperSG.
  52. ↑ “Runaway Lawyer David Rasif Fingered in Property Cashback Case”. The Straits Times. July 26, 2007. Accessed 29 November 2019.
  53. ↑ “Runaway Lawyer David Rasif Fingered in Property Cashback Case”. The Straits Times. July 26, 2007. Accessed 29 November 2019.
  54. ↑ "Property agent jailed for cashback scam”. Channel News Asia. August 3 2007. Accessed 29 November 2019. Retrieved from NewspaperSG.
  55. ↑ Lum, Selina. “Lost millions: Pair lose gem-sale suit”. The Straits Times. December 31, 2008. Accessed 2 December 2019. Retrieved from NewspaperSG.
  56. ↑ Koh, Kian Beng. “All they wanted was to buy DREAM HOME What they got was a $10m Nightmare”. The New Paper. June 28, 2007. Accessed 11 December 2019. Retrieved from NewspaperSG.
  57. ↑ “Tears over a $10.7m cheque; Mrs Zage breaks down when questioned why she left money with Rasif”. TODAY. June 28, 2007. Accessed 27 November 2019. Retrieved from NewspaperSG.
  58. ↑ Ng, Ansley. “Court sets aside assets-freeze injunction”. TODAY. July 21, 2006. Accessed 27 November 2019. Retrieved from NewspaperSG.
  59. ↑ “$2m of gems buy in 4 days ‘not unusual’”. The Straits Times. September 4, 2007. Accessed 2 December 2019. Retrieved from NewspaperSG.
  60. ↑ K.C. Vijayan. “Swindled couple to get $4.1m sitting in HK Bank”. The Straits Times. December 29, 2006. Accessed 28 November 2019. Retrieved from NewspaperSG.
  61. ↑ K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. The Straits Times. March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html
  62. ↑ K.C. Vijayan and The, Joo Lin. “More clients of missing lawyer may go to courts to recover cash”. The Straits Times. June 22, 2006. Accessed 2 December 2019. Retrieved from NewspaperSG.
  63. ↑ K.C. Vijayan. “Rogue lawyer’s victim recover 60% of losses”. The Straits Times. March 6, 2012. Accessed 29 November 2019. Retrieved from: http://thenewsynewsblog.blogspot.com/2012/03/rogue-lawyers-victims-recover-60-of.html
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