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Daily Debrief: What Happened Today (Feb 21) businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
Envy Asset Management liquidators allowed to claw back S$2.3 million from Chuan Hup's unit, Energy & Commodities businesstimes.com.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from businesstimes.com.sg Daily Mail and Mail on Sunday newspapers.
Temasek Holdings legal counsel, other prominent lawyers among victims of Singapore’s largest financial scam Pek Siok Lan was reportedly cheated of S$5.5 million, according to fresh charge sheets against Singaporean businessman Ng Yu Zhi, who has been prosecuted for allegedly swindling investors into non-existent nickel deals. Ng, the director of Envy Asset Management and Envy Global Trading, was previously facing 18 charges for cheating, fraudulent trading, and forgery. He was slapped with the 13 new charges on Monday (28 June). Other than Pek, the alleged victims named in the new charges include criminal lawyer Sunil Sudheesan and ex-president of the Law Society Thio Shen Yi.
Mr Sunil heads the criminal department of law firm Quahe Woo and Palmer. He is also president of the Association of Criminal Lawyers of Singapore and a council member of the Law Society. Mr Thio is a founding partner of TSMP Law and was named Singapore Lawyer of the Year at the Benchmark Litigation Asia-Pacific Awards last year. Other notable names allegedly cheated by Ng include investment professionals. Vickers Capital Group chairman Finian Tan was purportedly swindled of US$19.2 million (S$25.8 million), and Chuan Hup Holdings chief executive Terence Peh was said to have been cheated of $3 million. Ng, who is represented by Mr Navin Thevar from Davinder Singh Chambers, is out on bail of $1.5 million.
Top lawyers among those allegedly cheated in $1b fraud scheme tnp.sg - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tnp.sg Daily Mail and Mail on Sunday newspapers.
(March 11): Platinum Equity, a buyout firm founded by American businessman Tom Gores, is weighing exiting its investment in Singapore electronics manufacturing services provider PCI Pte, according to people with knowledge of the matter. The private equity firm is working with financial advisers to gauge interest from potential buyers, said the people, who asked not to be named as the information is private. A deal could value the manufacturing services provider at about $400 million, the people said. Deliberations are at an early stage and Platinum Equity could decide not to proceed with the sale, the people said. A representative for Platinum Equity declined to comment. A representative for PCI did not respond to requests for comment.