Thomas Subramaniam, 61, and his wife Hameedah Bee Abdul Jaffar, convinced Hong Kong based Dutch national Elisabeth Everarda Van Der Laan to place her money in the account of their company Billionaires Management Worldwide (BMW), thereby cheating the woman age 70, of over $ 300,000 on the pretext of promoting her yoga books and investing in a property in Indonesia.
Subramaniam has been sentenced to 33 months for the fraud, and 48-year-old Hameerdah’s sentencing has been postponed as she was reportedly hospitalised.
The district judge had found the couple guilty of conspiring to cheat Everarda by lying. and investing the woman’s retirement savings.
The couple denied the scam and claimed Everarda agreed to invest in their online marketing portal which had failed largely because she did not cooperate with them and see the plan through.
Everarda who represented herself in court and pursued the case for 7 years said the outcome was most satisfactory.