Rasif David

Findings — machine-extracted (anthropic-batch:claude-opus-4-8); verify against the decision

Rasif David, sole proprietor of David Rasif & Partners and sole signatory of the firm's client account, misappropriated over S$11.3 million (largely funds of S$10,658,240 intended for a client's property purchase) through numerous unauthorised withdrawals between 31 May and 2 June 2006, and failed to maintain proper client account records. He absconded and his whereabouts remained unknown. Proceedings before the Disciplinary Committee and the High Court were conducted in his absence. The court found due cause under s 83(2)(b) proved beyond reasonable doubt, expressly finding proven dishonesty, and ordered him struck off the roll. He was ordered to bear the costs of both the court proceedings and the Disciplinary Committee proceedings (fixed at S$2,000).

Duties found breached:

• No improper use of client money
• Accounting records, reconciliation and reports

Aggravating factors:

• Substantial sums misappropriated (over S$11 million)
• Deliberate, systematic and brazen manner of misappropriation
• Respondent absconded with the funds and failed to make restitution
• Abuse of trust placed in him by clients
• Seniority and standing (17 years' call) - should have known better
• SAR contraventions inextricably connected to the misappropriation and were systemic and flagrant