Singapore News - A Singaporean who ran a business offering corporate services to clients mostly from China became the director of 980 companies. On Dec 18, Xie Yong, 37, was sentenced to four weeks’ jail and fined $57,000 after he admitted to failing to exercise reasonable diligence. Read more at www.tnp.sg
Xie Yong's business clients were locals at first, but he pivoted to target Chinese clients, agreeing to stand as director for them and not checking what their actual business activities were.
Xie Yong, 37, admitted to failing to exercise reasonable diligence in the proper discharge of his duties with two firms. Read more at straitstimes.com.