Eratat Lifestyle

Usually such frauds are complicated and not so direct as you thought , can be very tedious and they need times to investigate , collect evidences etc. So patient is the word.

(26-02-2014, 09:02 AM)cfa Wrote: Usually such frauds are complicated and not so direct as you thought , can be very tedious and they need times to investigate , collect evidences etc. So patient is the word.

Take the case of Oriental Century whose CEO has ADMITTED that he committed fraud (http://www.bloomberg.com/apps/news?pid=n...BCJ.VvQcw4) in 2008!

Why hasn't CAD, CPIB prosecuted him yet?

(26-02-2014, 09:08 AM)minimax Wrote:

(26-02-2014, 09:02 AM)cfa Wrote: Usually such frauds are complicated and not so direct as you thought , can be very tedious and they need times to investigate , collect evidences etc. So patient is the word.

Take the case of Oriental Century whose CEO has ADMITTED that he committed fraud (http://www.bloomberg.com/apps/news?pid=n...BCJ.VvQcw4) in 2008!

Why hasn't CAD, CPIB prosecuted him yet?

A bit of shock to me after reading this , perhaps more times needed as this particular case might be more complicated then others.
Don't worry , Singapore is famous for transparency , especially when crime is concerned.

(26-02-2014, 09:17 AM)cfa Wrote:

(26-02-2014, 09:08 AM)minimax Wrote:

(26-02-2014, 09:02 AM)cfa Wrote: Usually such frauds are complicated and not so direct as you thought , can be very tedious and they need times to investigate , collect evidences etc. So patient is the word.

Take the case of Oriental Century whose CEO has ADMITTED that he committed fraud (http://www.bloomberg.com/apps/news?pid=n...BCJ.VvQcw4) in 2008!

Why hasn't CAD, CPIB prosecuted him yet?

A bit of shock to me after reading this , perhaps more times needed as this particular case might be more complicated then others.
Don't worry , Singapore is famous for transparency , especially when crime is concerned.

Singapore do not have an extradition treaty with China.

But if our gov don't apprehend these commercial criminals will only encourage more crooks doing the same , especially we open our door and treat them like VIPs .

Not sure if the findings have been published here but if it hasn't, vested parties could read this.

https://drive.google.com/file/d/0B38uoog...sp=sharing

No matter how careful and how much diligence we put in looking into those numbers of S chips, we are unable to get the true info.

In view of the many fraudulent cases involved with the top management of s-chips, I think local investors' confident in the S chips has been badly shattered.

Unless SG government were able to pan out the necessary law to bring those cross border crime to justice, any new IPO from China brought in by SGX will surely be met with investors' skepticism and hardly be successful after IPO.

There are new suckers born everyday. Magic stones , scratch and win .............these tricks still survive and some new victims are well educated.

1 thing I cant believe is that even the HK private investor arranged by SHK securities got snook. That is incredible and these private investor are dumb enough to take the bait that there is such high interest to be had and cheap equity to redeem at the end of the bond.

It seems that the CFO and rest of management has no control of operation in China. They need the chinese management to be in place and looks like the whole thing was a sham from day 1 of listing.

Thanks to Mr Lin and ABC bank, I dont have any respect for China as a nation of rule of law. [Moderator: I removed the last inappropriate statement. Please take note]

HK investors probably think
1) Issued by SHK! Must be safe!
2) listed in Singapore! Super strict country! Must be safe too!

Furthermore it was packaged as ABS. This might "trick" some to think it's safe.

But what's the asset to back it up? Mr Lin's shares in Eratat. Hardly a good backing.


None of these are new info or conclusion and has been brought up by different parties for quite some time.