logo

Ex-lawyer convicted over charges for cheating company director of more than $8 million

Straits Times3 days ago
SINGAPORE - A former lawyer has been convicted for tricking a director of two companies into dispersing more than $8 million into his own company following a trial.
On Aug 8, Then Feng, 43, was convicted of all 16 charges he was fighting. This includes cheating, forgery and charges under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.
Then, who is out on a $450,000 bail, will return to court on Oct 24 to give his mitigation plea . He will also be sentenced on the same day.
The crux of the trial was to determine if Then had misrepresented to Mr Andrew Ling Hui, the director of Providence Asset Management and 5 and 2, into believing that Mr Ling was procuring services from and dealing with Walkers, an international law firm.
The lawyer was then employed by Walkers and had learnt that his firm was going to launch an affiliated corporate and fiduciary services firm in 2015 named Walkers Professional Services in the Cayman Islands.
In June 2015, Then incorporated a company of the same name in the British Virgin Islands without his company's knowledge.
He admitted to basing the entire branding of his firm, from the name to its logo, on that of Walkers' business – but insisted that he had set up the firm at the time without any intention of it being associated with Walkers.
Sometime in 2018, Then told Mr Ling that Walkers could provide escrow services for cryptocurrency transactions. He added that those services would be done with a bank account under Walkers Professional Services.
The prosecution's closing submissions pointed out that Mr Ling had believed the services would be rendered to him by Walkers, the international law firm, and not Then's personal company.
In April 2018, Then and Mr Ling agreed to buy a foreign bank together.
Under the agreement, Then told Mr Ling that Walkers would provide escrow services for the transaction, and that monies provided for the acquisition would be held in a bank account controlled by Walkers.
To that end, Mr Ling arranged for various payments amounting to more than $8 million to be made to what he believed was Walkers' bank accounts, but he had unknowingly wired the money to Then's company.
Deputy Public Prosecutor Tan Pei Wei said Then had also given Mr Ling documents with a logo that is 'indiscernible' from the logo used by Walkers.
In his defence, Then said he had incorporated a firm named after Walkers' business due to his 'quirky key sense of humour', and it was done in 'good fun'.
He added that he had meant for the branding of his company to be a 'tongue-in-cheek insider thing', and that the company would only be known to his friends and close business associates.
But the prosecution said Then had only got to know Mr Ling two months prior to telling him about the firm, and that Mr Ling could scarcely be considered Then's close friend or business partner at the point.
DPP Tan said it was also unbelievable that an accomplished corporate lawyer, such as Then, would have found the arrangement amusing as it was fraught with risk for both himself and his firm.
To that end, she pointed out that Then had concealed the existence of his identically-named firm from his company, as he was on the verge of being made partner at the law firm and was aware of the problems his incorporated company could pose to him .
In fact, Then was later terminated from the law firm after his incorporated company was discovered by another partner at Walkers.
The prosecution added that while the defence had sought to impugn Mr Ling's credibility, Mr Ling had been candid and forthright on the stand and consistent with the evidence he had provided in terms of the communication between the pair.
On the other hand, DPP Tan said Then had been 'dishonest, evasive and disingenuous' on the stand. His explanations concerning the use of an identical name and logo for his own firm with Walkers' business was also described as being 'fundamentally absurd'.
If found guilty of forgery for the purpose of cheating, Then can be jailed for up to 10 years and fined for each charge.
He can receive the same punishment for each count of cheating and dishonestly inducing a delivery of property.
He can be jailed for up to 10 years, fined up to $500,000 or both for each charge under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Police arrest man in Penang over upside-down Malaysia flag
Police arrest man in Penang over upside-down Malaysia flag

Straits Times

timea day ago

  • Straits Times

Police arrest man in Penang over upside-down Malaysia flag

Sign up now: Get ST's newsletters delivered to your inbox GEORGE TOWN - A 59-year-old man has been arrested over an incident involving Malaysia's national flag, the Jalur Gemilang, displayed upside down on Aug 9. State acting police chief Deputy Comm Datuk Mohd Alwi Zainal Abidin said the suspect was detained on Aug 9 to assist investigations. 'The case is being investigated under Section 5 of the Emblems and Names (Prevention of Improper Use) Act, Section 14 of the Minor Offences Act, and Section 233 of the Communications and Multimedia Act,' he said in a statement on Aug 10. Mr Alwi said police have received 16 reports nationwide, with 12 lodged in Penang and four outside the state. He said investigation papers would be submitted to the state Deputy Public Prosecutor's Office on Aug 11 with a recommendation for charges. He stressed that police view such acts seriously and will take firm action, while reminding the public to respect the Jalur Gemilang as a symbol of national sovereignty. The footage is believed to have been recorded in Kepala Batas and prompted a report at the Kepala Batas police station at about 12.30pm on Aug 9. Top stories Swipe. Select. Stay informed. Singapore Over 118,000 speeding violations in first half of 2025; situation shows no signs of improvement: TP Singapore Four men arrested in Bukit Timah believed to be linked to housebreaking syndicates Singapore Criminal trial of Hyflux founder Olivia Lum and five others starts Aug 11 Singapore Why some teens cook despite Singapore's da bao culture Tech Former data analyst creates AI tutor that assesses students based on Singapore schools' criteria Singapore Minor Issues: Parents, is it worth dying for a pay cheque? Opinion I used to be impatient. Then I became a granddad Life 'Best birthday gift': Actress Michelle Chia marries 41-year-old boyfriend before 50th birthday The 21-second video shows a man waving the Jalur Gemilang mounted upside down on a metal pole while another man films the act. This is not the first time this year controversy has surrounded the national flag. A primary school in Port Dickson apologised earlier in August after mistakenly hanging it upside down ahead of celebrating Malaysia's independence. In April, Malaysian Chinese-language newspaper Sin Chew Daily also had to apologise for publishing an illustration of the flag without a crescent moon. THE STAR/ASIA NEWS NETWORK

High-profile Chinese dealmaker Bao Fan released from detention after two years, source says
High-profile Chinese dealmaker Bao Fan released from detention after two years, source says

CNA

time3 days ago

  • CNA

High-profile Chinese dealmaker Bao Fan released from detention after two years, source says

BEIJING: Bao Fan, the star dealmaker and founder of boutique investment bank China Renaissance Holdings has been released more than two years after being detained by Chinese authorities, a person with knowledge of the matter said on Friday (Aug 8). China Renaissance shook the country's financial sector in 2023 when it announced it was unable to contact Bao, who founded the bank in 2005 with two other partners and still owns nearly 49 per cent of its issued shares. Bao was among several high-profile executives in China, mostly from the finance industry, who went missing in recent years with little explanation during a sweeping anti-corruption campaign spearheaded by President Xi Jinping. His disappearance unsettled professionals in the financial industry of the world's second-largest economy, as Beijing pressed its campaign to rein in what it described as the lavish lifestyle of the financial elite. BOOSTING BUSINESS CONFIDENCE Bao's release comes as Beijing seeks to bolster business confidence, particularly among the country's tech entrepreneurs, whose companies have been hit by a years-long crackdown. China is looking to restore confidence in the private sector, which has been struggling with weak domestic consumption and a prolonged debt crisis in the property sector, set against a backdrop of heightened trade tensions with the United States. "This is certainly a positive signal, as Bao was the most high-profile financier detained in recent years," said Christopher Beddor, deputy China research director at Gavekal Dragonomics. "Still, it will not change the fact that the anti-corruption campaign continues to churn through the financial sector, and the common prosperity campaign has led to sweeping pay caps and even clawbacks," Beddor said. "China's financial sector remains a long way from its heyday only a few years ago." HIGH-PROFILE DEALS Bao, widely regarded as one of China's best-connected bankers, was released from detention earlier this week, the person said, declining to be identified because the information was not public. He had been involved in major deals including the mergers of ride-hailing firms Didi and Kuaidi, food delivery companies Meituan and Dianping, and travel platforms Ctrip and Qunar. Neither China Renaissance nor Bao immediately responded to Reuters' requests for comment. Chinese media outlet Caixin first reported Bao's release, citing unidentified sources. China Renaissance's shares jumped 17 per cent on Friday to close at HK$6.87 (US$0.8752) before the news of his release became public. DETAINED IN 2023 Bao, who previously worked at Credit Suisse and Morgan Stanley, went missing in February 2023. Trade in China Renaissance shares was suspended in April 2023 after the bank delayed publication of its audited annual results due to mainland Chinese authorities detaining Bao as part of an investigation. A Chinese financial publication reported in May 2023 that he was detained by disciplinary and supervision officials. Authorities have not provided any explanation. China Renaissance shares plunged 72 per cent on the day trading resumed last September. Sources previously told Reuters that Bao was taken away to assist in an investigation into a former colleague. Xie Yi Jing, who co-founded China Renaissance, replaced Bao as chairman in February last year.

Ex-lawyer convicted over charges for cheating company director of more than $8 million
Ex-lawyer convicted over charges for cheating company director of more than $8 million

Straits Times

time3 days ago

  • Straits Times

Ex-lawyer convicted over charges for cheating company director of more than $8 million

SINGAPORE - A former lawyer has been convicted for tricking a director of two companies into dispersing more than $8 million into his own company following a trial. On Aug 8, Then Feng, 43, was convicted of all 16 charges he was fighting. This includes cheating, forgery and charges under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. Then, who is out on a $450,000 bail, will return to court on Oct 24 to give his mitigation plea . He will also be sentenced on the same day. The crux of the trial was to determine if Then had misrepresented to Mr Andrew Ling Hui, the director of Providence Asset Management and 5 and 2, into believing that Mr Ling was procuring services from and dealing with Walkers, an international law firm. The lawyer was then employed by Walkers and had learnt that his firm was going to launch an affiliated corporate and fiduciary services firm in 2015 named Walkers Professional Services in the Cayman Islands. In June 2015, Then incorporated a company of the same name in the British Virgin Islands without his company's knowledge. He admitted to basing the entire branding of his firm, from the name to its logo, on that of Walkers' business – but insisted that he had set up the firm at the time without any intention of it being associated with Walkers. Sometime in 2018, Then told Mr Ling that Walkers could provide escrow services for cryptocurrency transactions. He added that those services would be done with a bank account under Walkers Professional Services. The prosecution's closing submissions pointed out that Mr Ling had believed the services would be rendered to him by Walkers, the international law firm, and not Then's personal company. In April 2018, Then and Mr Ling agreed to buy a foreign bank together. Under the agreement, Then told Mr Ling that Walkers would provide escrow services for the transaction, and that monies provided for the acquisition would be held in a bank account controlled by Walkers. To that end, Mr Ling arranged for various payments amounting to more than $8 million to be made to what he believed was Walkers' bank accounts, but he had unknowingly wired the money to Then's company. Deputy Public Prosecutor Tan Pei Wei said Then had also given Mr Ling documents with a logo that is 'indiscernible' from the logo used by Walkers. In his defence, Then said he had incorporated a firm named after Walkers' business due to his 'quirky key sense of humour', and it was done in 'good fun'. He added that he had meant for the branding of his company to be a 'tongue-in-cheek insider thing', and that the company would only be known to his friends and close business associates. But the prosecution said Then had only got to know Mr Ling two months prior to telling him about the firm, and that Mr Ling could scarcely be considered Then's close friend or business partner at the point. DPP Tan said it was also unbelievable that an accomplished corporate lawyer, such as Then, would have found the arrangement amusing as it was fraught with risk for both himself and his firm. To that end, she pointed out that Then had concealed the existence of his identically-named firm from his company, as he was on the verge of being made partner at the law firm and was aware of the problems his incorporated company could pose to him . In fact, Then was later terminated from the law firm after his incorporated company was discovered by another partner at Walkers. The prosecution added that while the defence had sought to impugn Mr Ling's credibility, Mr Ling had been candid and forthright on the stand and consistent with the evidence he had provided in terms of the communication between the pair. On the other hand, DPP Tan said Then had been 'dishonest, evasive and disingenuous' on the stand. His explanations concerning the use of an identical name and logo for his own firm with Walkers' business was also described as being 'fundamentally absurd'. If found guilty of forgery for the purpose of cheating, Then can be jailed for up to 10 years and fined for each charge. He can receive the same punishment for each count of cheating and dishonestly inducing a delivery of property. He can be jailed for up to 10 years, fined up to $500,000 or both for each charge under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store