An individual was charged in court on 21 January 2022 for allegedly failing to exercise reasonable diligence in the discharge of his duties as a director of a company.
The Commercial Affairs Department received three police reports from victims who were deceived into wiring a total of USD 364,980.10 into Geh International Pte. Ltd.’s bank account. In addition, Geh International Pte. Ltd.’s bank account was also named as the intended beneficiary of an attempted fraud involving a sum of USD 9,934.50.
Investigations revealed that Han Jie, a director of a company that provided corporate secretarial services, had been appointed as a director of Geh International Pte. Ltd. However, he had purportedly ceded control of the company’s bank account to an unknown individual and failed to exercise reasonable diligence over the affairs of the company during the tenure of his directorship.
For failing to exercise reasonable diligence in the discharge of duties as a director, an offender can be jailed for up to 12 months or fined up to $5,000 under Section 157(3)(b) of the Companies Act. Upon conviction, the offender may also be disqualified from being a director under Section 154 of the Companies Act.
SINGAPORE POLICE FORCE
21 January 2022 @ 4:02 PM