Novena Global Healthcare’s Nelson Loh faces additional charges, including for money laundering
NOVENA Global Healthcare Group’s (NGHG) co-founder and former director Nelson Loh has been charged in court with 58 additional counts of cheating, forgery and money laundering offences.
His former employee, Michael Wong, was also charged with 12 counts of “similar offences”, said the Singapore Police Force (SPF) on Wednesday (Jan 24).
The news of Loh’s additional charges comes a year after his arrest in December 2022 (*see amendment note).
At the time, Loh and Wong were already facing two counts of forgery offences each, for allegedly forging the financial statements of NGHG in 2019, and using them to obtain bank loans amounting to S$18 million.
These holding charges were previously tendered against the duo on Dec 26, 2022.
The latest round of charges faced by Loh and Wong include three counts of engaging in a conspiracy to forge audited financial statements of NGHG, its subsidiary Novena Global Healthcare, and Giron.
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They also each face seven counts of engaging in a conspiracy to cheat banks into disbursing loans of approximately S$51.9 million and US$12.7 million, said SPF.
Loh faces 48 counts of transferring property, representing benefits from criminal conduct, amounting to about S$29 million and US$12.2 million.
Meanwhile, Wong has been charged with four counts of the same, for transferring property amounting to S$19 million.
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For each charge of forgery or engaging in a conspiracy to forge, Loh and Wong may face imprisonment of up to four years, a fine, or both.
For each money laundering charge, they may face up to 10 years in prison, a fine of up to S$500,000, or both.
Each charge of engaging in a conspiracy to cheat bears a maximum imprisonment term of 10 years and a possible fine.
Amendment note: An earlier version of this story said Nelson Loh was arrested in December 2023, when it should have been December 2022.
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