Singapore News - The founder of a parquet company was sentenced to three years’ jail on Monday for duping three banks into delivering more than $2 million in loans. Jason Sim Chon Ang, 57, who is no longer a director at Jason Parquet Specialist Singapore (JPS), was earlier convicted of. Read more at www.tnp.sg
Singapore News - A man who helped a syndicate to launder about $40 million – a sum which the prosecution said was the largest fraud of government funds to date – was sentenced on Wednesday to 13 years and nine months’ jail. David Lim Wee Hong, 44, committed the offences. Read more at www.tnp.sg
He helped a syndicate to launder some S$40 million (RM134 million) – a sum which the prosecution said was the largest fraud of government funds to date – between Sept 7 and Nov 1, 2017.