Thomas Subramainium, 61 and his wife Hameedah Bee Abdul Jaffar, 48, were charged for running a fraud through their company Billionaires Management Worldwide (BMW).
In the year 2008, they convinced a Dutch lady Ms Elisabeth Everarda Van Der Laan, 70, to invest over $500,000 in their company in lieu of which they will market her yoga book and rest to be placed in the real estate market.
She realized that she was being duped after nine months of giving them the money; she filed a police report against the couple.
Investigations have revealed that the couple extracted the money from the old lady with the intent of spending it on their lavish lifestyles. They even stayed at seven-star and notoriously expensive Burj Al Arab hotel in Dubai for five days spending 24,390 dollars of Elisabeth’s retirement money.
The couple 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.
"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.
After seven years of relentlessly following the case in the court, Subramaniam has been sentenced to 33 months for the fraud, and sentencing to his wife Hameedah has been delayed till next month as she was admitted in a hospital.