Fullerton Health Co-Founders Charged with Corruption and Fraud—But Why Is David Sin Allowed to Leave Singapore?

By Thea Felicity

Jun 13, 2024 11:37 AM EDT

Private healthcare solutions provider Fullerton Healthcare expanded from being Singapore-centric to a pan-Asian platform under David Sin's leadership.

However, recently, the company and its co-founders, including Sin, were charged with graft and corruption for allegedly falsifying accounts and providing bribes amounting to nearly S$668,000 (US$495,000) to a former executive of insurance broker Aon Risk Solutions in Singapore.

Who is David Sin?

David Sin, a former president and deputy chairman of Fullerton Health, is recognized for transforming the company globally. He, along with minority owners Daniel Chan and Michael Tan, was instrumental in this expansion.

Sin stepped down from Fullerton Health's board in 2022 following a buyout led by private equity firm RRJ Capital.

Sin, along with co-founders Chan and Tan with four and one counts of charges, respectively, was charged with corruption and falsifying entertainment claims to defraud Fullerton Health of nearly half a million dollars, as reported by Channel News Asia. The charges allege that the trio committed these offenses to bribe Collin Chiew, former CEO of insurance broker Aon Risk Solutions in Singapore.

Why David Sin Was Allowed to Leave

However, according to Business Times, co-founder Sin was recently granted approval to leave Singapore to visit his family in China on Monday, June 10. Sin paid an additional bail set at S$100,000 (US$74,000) on top of the original S$200,000 (US$148,000) provided in one surety with monetary security.

Currently, Sin faces 13 charges, including eight counts of conspiring with Chan to falsify accounts and five counts of conspiring to corruptly give S$668,000 (US$495,000) in bribes to Chiew between 2015 and 2019.

In a recent statement, Fullerton Health clarifies that the new board fully cooperated with the authorities, and the individuals implicated in the allegations are no longer with the company.