Post Reply
1-20 of 22
Still got around 100 lots but nothing to show for it
The problem is till now no outcomes. Where is the new report ?
TA_Expert ( Date: 04-Jan-2024 23:46) Posted:
|
https://www.police.gov.sg/media-room/news/20220210_frmr_chief_exec_officer_of_midas_holdings_ltd_chrgd_for_an_offence_under_the_companies_act
The director may be jailed but the money lost is forever gone.
MDAS is already insolvent. Shareholders should not think of getting anything.
The director may be jailed but the money lost is forever gone.
MDAS is already insolvent. Shareholders should not think of getting anything.
Is this company closed down for good?
Started in February 2018, so far there is no news. It' s been almost 5 years. Is this case really difficult? CCP（ scam boss） may have renounced his Singapore citizenship, so he cannot be brought to justice!
Midas shares are manipulated by China man and the guy got away freely and many investors lost quite a significant sum of money with no end in sight as the money is gone forever. Curse these people who scammed these investors money with no conscience and hope they get their retribution.
That' s why Panda said he was really smart. If he was smart, then, who were stupid? Those people who went after and looked for him.
SGX dun earn monies going after these fraudsters. In fact they incured more manpower and legal fees via SGX regco. So not in SGX interest to prosecute these cons and affect their financial results.
They will remain wild and free .. :)
They will remain wild and free .. :)
finjungle ( Date: 11-Feb-2022 11:28) Posted:
|
So much moey involved So many lives of investors affected and yet only a max jail term of 12 monthsor a fine of up to $5k. Where is justice??????
What about the Chinaman? Going scott-free?
What about other cases???? So slow! Why???
What about the Chinaman? Going scott-free?
What about other cases???? So slow! Why???
Joelton ( Date: 11-Feb-2022 09:22) Posted:
|
Midas Holdings' former CEO charged under the Companies Act
Mainboard-listed Midas Holdings' former chief executive has been charged with an offence under the Companies Act (CA), for allegedly failing to use reasonable diligence in the discharge of his duties as a director of Midas.
The charge relates to Chew Hwa Kwang Patrick' s " failure to exercise reasonable supervision over the financial affairs of Midas' subsidiaries" , Jilin Midas Aluminium Industries Co (JMA) and Luoyang Midas Aluminium Industries Co (LYMA), the Singapore Police Force (SPF) said in a press release on Thursday (Feb 10).
" Chew had allegedly ceded control of his legal representative stamps for JMA and LYMA, which were then used to enter into loans or stand as loan guarantors in the name of the two subsidiaries," the SPF added.
The value of these loans and guarantees - that were entered into between 2015 and 2017 - amounted to RMB 159.5 million (about S$32.7 million) and RMB 264.5 million respectively.
Railway parts maker Midas flagged the discovery of the loans and guarantees in February 2018.
If convicted for an offence under Section 157(1) of the CA, per Section 157(3) of the CA, Chew faces imprisonment for a term which may extend to a maximum of 12 months, or a fine of up to S$5,000.
The stock has been suspended from trading since February 2018.
Pominent guy, that one already ran road and back to China? Jn fact, he was really smart because he knew our law enforcement tam now " LL" for many years liao. could not do anything to him. Hahaha..... A big joke!
He does not work alone. There' s another prominent guy. I no need to name him. Many already can guess.
So one senior actually told me biggest scam is in our local SGX mkt. Where frauds get away with min repercussions and max $. Look at those dead stocks like EHT, midas, noble etc etc.. directors & ceo rich & free. Retail onvestors got burn ..
A ' proven' way to get rich at minimum losses.
CEO only charged max 12 months or fine up to 5k the shareholders lost the money is much more then him. This charged really a big joke🤬
he bankrupt a company and lost so many sharehold heers' money... really a joke if slapped with the max fine of 5k
idwish ( Date: 10-Feb-2022 19:39) Posted:
|
Is this a joke? Only a maximum of 12 months, or a fine of up to S$5,000 for the type of damages he had made?
piscesmonkey ( Date: 10-Feb-2022 18:28) Posted:
|
Seems can have a big party if sgx takes All directors to task too.. lol
Midas Holdings' former CEO charged under the Companies Act
http://www.businesstimes.com.sg/companies-markets/midas-holdings-former-ceo-charged-under-the-companies-act
Ok Midas thread is back up. But i hope that the thread will be for updates of news and this thread solely for reporting and actions we take to bring those involved to task.
Neater this way.
Neater this way.