Huang, 52, was sentenced to eight months in jail in December 2024 for possession of 2,259 sexually explicit images involving 35 minors.
On March 14, the Singapore High Court upheld a worldwide freezing order against the former employees and Singa Wealth. - ST/ANN
They were the only Singapore-based staff of LFI at the material time between May 2015 and February 2024. “On the face of the report, it seems clear that Zhong has a solid ground to allege that there were certain unauthorised payments made from his personal account, or LFI’s, and these transactions were orchestrated by one or more of the defendants,” the senior judge said.
Zhong is the beneficiary owner of LFI and Panda Enterprise, a single family office set up in Singapore and regulated under the Monetary Authority of Singapore’s fund tax incentive schemes for family offices. The A&M report also found bonus payments paid to the employees which were not authorised by Zhong as well as possible misappropriation of funds from Zhong’s personal DBS account.The most serious involved the creation of a fabricated MT103 Swift payment message used specifically for wire transfers between parties.
Another key finding was the severe under-declaration of salaries and bonuses by Goh that have been issued to herself, Lim and Ealham between 2019 and 2022, the judge noted.
Singapore US$55.57Mil Theft Family Office Staff
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