THE DIFFICULT
A Singapore-incorporated company called M _ Solution Trading reportedly sold high-value electronics and software worth about S$ 55 million to a number of companies, including Crescendo Hardware Trading, between September and December 2015. & nbsp,
Despite the fact that M _ Solution Trading had only been GST-registered since December 1, 2015, the authorities claimed that GST was still applied to these sales. & nbsp,
According to reports, M _ Solution Trading was a shell company with no actual operations. It was thought to have been used to create purchase orders and sales payments to support exporters’ succeeding claims for GST refunds. & nbsp,
M_ Solution Trading’s fraudulent activities are said to have been run by Yeo and Tan, who also planned to fabricate its supply purchases and sales receipts. & nbsp,
Tan and Yeo each faced charges under the Companies Act for participating in a false business and for their fraudulent activities. Additionally, they were each accused of conspiring to forge M _ Solution Trading’s sales invoices and delivery orders, respectively, on two counts under the Penal Code. & nbsp,
If found guilty of engaging in false investing, they could receive up to seven years in prison, a fine, or both. They could receive a four-year prison sentence for conspiring to send forgery, be fined, or both. & nbsp,
Despite being aware that the funds were the result of legal activity, Tan reportedly transferred about S$ 5 million from the bank’s Hong Kong bank accounts to another account in December 2015. & nbsp,
He was also charged with one count of transferring benefits of criminal behavior under the & nbsp, Corruption, Drug Trafficking, and Other Serious Crimes( Confiscation of Benefits ) Act for this. If found guilty, he could receive a sentence of up to 10 years in prison, an Randomness$ 500 000 fine, or both. & nbsp,
Meanwhile, between October 2015 and April 2016, Yeo was allegedly in charge of & nbsp, Crescendo Hardware Trading’s dishonest business dealings. He allegedly forged the company’s income receipts to aid in the fraud, according to the law and IRAS. & nbsp,
According to the authorities, he was charged with an additional count of false buying and another fee of plotting to commit fraud in connection with Crescendo Hardware Trading. & nbsp,