The Business Times

Fraud

Singapore

Criminal trial judge erred in convicting ex-oil tycoon OK Lim of cheating: Davinder Singh

Judicial Commissioner Mohamed Faizal had found that Lee Si Ye and Ju Xiao had breached their duties as directors of Envy group of companies.
Energy & Commodities

Envy’s ex-directors seek bankruptcy after being found liable for breach of duties in nickel trading fraud

The judge recognised that his decision could appear at odds with the Republic’s broader commitment to facilitating cross-border insolvency cooperation. But, he noted that Singapore’s Parliament had deliberately included the 2018 cut-off when enacting Model Law.
Companies & Markets

1MDB liquidators lose Singapore court bid to sue StanChart, BSI due to transactions predating insolvency law

Police have warned that fake bulk orders are on the rise, with losses totalling at least S$52,000 since May.
Singapore

SMEs fall prey to alleged bulk order scams; bakery latest to be hit by S$2k SAF impersonation

The SEC announcement comes on the heels of Nasdaq announcing on Sep 3 that it’s revamping listing rules to try to prevent wild market swings.
Companies & Markets

US SEC launches task force on securities fraud by foreign companies

Federal Reserve governor Lisa Cook is alleged to have designated a condo in Atlanta as her primary residence after taking a loan on her home in Michigan, which she also declared as a primary residence.
International

Trump calls on Fed governor Cook to resign

Do Kwon pleaded guilty to conspiracy and wire fraud under an agreement with prosecutors at a hearing in New York on Tuesday.
Banking & Finance

Do Kwon pleads guilty to fraud over US$40 billion Terra collapse

The pair are believed to have set up four shell companies to operate a fraudulent business between November 2017 and April 2018.
Singapore

Two face charges over S$11.8 million in GST fraud from sham transactions

Ng Yu Zhi NYZ been charged with cheating and fraudulent trading.
Singapore

9 ex-directors, employees ordered to repay almost S$900 million to Envy companies in fraudulent nickel trading suits

The liquidators are seeking to hold the bank accountable for its alleged role in enabling fraud related to the multibillion-dollar financial scandal, the statement says
ASEAN Business

Standard Chartered faces US$2.7 billion lawsuit over alleged role in 1MDB fraud; bank ‘emphatically rejects’ claims

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