Singapore: Chew Soo Chun, the ex-ceo of Chew Yak Mong-Synerpac, a ship equipment supplier, has been sentenced to 32 months in jail and fined S$10,000 for falsifying company accounts and cheating a bank of more than S$2.5m in loans.
Chew inflated the company’s sales by up to two thirds in 2005 and 2006. He also faked documents to fix a S$2.6m loan from OCBC Bank.
Chew Yak Mong-Synerpac listed in Australia in 2005, but was delisted in February 2007. [02/02/15]
