Jail for former company director who allowed money laundering of nearly $50m

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Four weeks' jail, 5-year ban for former company director who allowed laundering of nearly $50 million

SINGAPORE - He was appointed a director of the company but was not involved in any aspect of its management and affairs.

Investigations by the Commercial Affairs Department revealed that he was one of the directors of Enston Corporate Services, a Singapore-based accounting firm which provides corporate secretarial services. Control of Phima and its bank accounts was relinquished to the foreign director by Eng who also did not monitor the transactions in the bank accounts.

 

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Belgique Dernières Nouvelles, Belgique Actualités