Thomas Subramainiam and his wife Hameedah Bee Abdul Jaffar convinced Hong Kong-based Dutch national Elisabeth Evararda Van Der Laan for placing her money in the account of their company Billionaires Management Worldwide (BMW).
Sentencing of 48-year-old Hameedah has been postponed to next month for she was reportedly hospitalised.
District Judge Toh Yung Cheong had earlier this month found the couple guilty of conspiring to cheat Everarda by dishonestly inducing her to deliver the money to BMW by issuing three cheques in that year.
Investigations later showed that the purported plans were a ruse to scam her of the funds and to spend the money on themselves, according to a report in The Sunday Times.
They denied the scam and claimed Everarda agreed to invest in their Admall project, an online marketing portal which they alleged had failed largely because she did not cooperate with them to see the plans through.
Everarda said though she won the civil suit, "not a penny has been salvaged" from the couple.
"The criminal case is not about legal return-of-money orders but about punishment," Everarda said who represented herself and pursued the case for seven years.
"The outcome could not have been better. If you think you can live in grandeur on other people's money, well, that's what you get," Everarda was quoted as saying by the paper.
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