Brandz director jailed 15 months for raising funds without prospectus

Singapore

THE court has sentenced an undischarged bankrupt businessman to 15 months' imprisonment for raising funds from investors in the form of a convertible loan without a prospectus.

District Judge Jasvender Kaur on Oct 7 handed down the jail term to Tay Chee Ming, 54, after a nine-day trial, having found that the director of Brandz Group had breached the Securities and Futures Act (SFA).

The accused is the majority shareholder of the brand communication and advertising company in Singapore, Asean and China. His wife is the only other shareholder and director.

The court heard that there was an attempt to list Brandz Group on the Singapore Exchange (SGX) in 2005. However, that attempt failed.

The attempt to list Brandz Group on the Australian Securities Exchange (ASX) also failed.…