An accountant who failed to place $8.5 million in a fixed deposit as instructed has been ordered to pay more than $119,000 in damages to her former employer for breaching her contractual duties.

The case involves Stamford Land Management, a subsidiary of hotel operator Stamford Land Corporation, which claimed that accountant Nur Aniza Mohd Shah’s negligence caused the company to lose potential interest earnings. The sum in question was held in a current account instead of being placed in a fixed deposit, resulting in a loss of interest estimated at $119,490.14 over a five-month period.

In a written judgment issued on July 17, District Judge Tay Jingli ruled in favor of Stamford Land Management, describing Aniza’s conduct as “at least negligent.” The judge rejected Aniza’s defense that placing fixed deposits was outside her contractual duties, noting that she was explicitly instructed by her supervisor to perform these tasks. A clause in the employee handbook requiring employees to follow “lawful and reasonable instructions” was cited as evidence of her obligation to carry out the fixed deposit placements.

According to the judgment, Aniza’s failure to transfer the funds amounted to a lack of the care and diligence required by her employment contract. The judge also found that Aniza submitted false documents to her superior to conceal the omission, including a bank statement showing a current account balance of $8,950 rather than the true balance exceeding $8.5 million. The court noted discrepancies in the statement’s font and alignment, concluding that Aniza likely falsified the document to create the impression that the funds had been placed in a fixed deposit.

Aniza worked in Stamford Land’s finance department from March 28, 2022, until April 26, 2025. After a colleague’s resignation in March 2023, she was instructed to assume additional responsibilities, including placing fixed deposits and preparing bank reconciliation statements. The failure to invest the $8.5 million occurred between December 2023 and May 2024, only coming to light in May 2024 after a bank relationship manager contacted another accountant about whether the company intended to place a fixed deposit. By that time, Aniza had resigned and was serving her notice period.

Following the discovery, Stamford Land Management transferred the funds into a fixed deposit on May 31, 2024. The company argued that had Aniza fulfilled her duties promptly, it would have earned substantial interest during the intervening months.

During the trial, much focus was placed on the authenticity of the bank documents Aniza provided. She denied falsifying the bank statement but admitted to submitting it to a shared drive and emailing the link to her superior. Under cross-examination, she claimed uncertainty about whether she or someone else had downloaded the statement from the bank’s portal. However, the judge found this explanation implausible and concluded that Aniza was responsible for the document’s falsification, noting her exclusive motive and access to the statement.

Aniza also contended that she had been under considerable stress and pressure, and that the employer should bear the risk of assigning these duties to an inexperienced employee. The court rejected this defense as legally insufficient to excuse her breach of contract.

Stamford Land Management confirmed on July 22 that it has filed a police report concerning the alleged falsification of documents.