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4 Singaporeans, 1 Russian charged over plot to cheat banks

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SINGAPORE — 5 individuals were charged in court for conspiring to cheat various banks by hiding the ultimate beneficial ownership of various companies.

SINGAPORE — Five individuals – four Singaporeans and a Russian – were charged in court for conspiring to cheat various banks by hiding the ultimate beneficial ownership of various companies from the banks.

They then opened bank accounts under the names of these companies by declaring to banks that they were their ultimate beneficial owners, when they were not. One of them, 30-year-old Singaporean Andruew Tang, was previously under investigation by the Singapore government in 2017 for owning a company which allegedly provided oil to North Korea.

 

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