- POSTED: 25 Apr 2014 13:02
The director of three alleged shell companies involved in money laundering is contesting accusations that he neglected his duties.
SINGAPORE: The director of three alleged shell companies involved in money laundering is contesting accusations that he neglected his duties.
Abdul Ghani Tahir, 49, faces 23 charges that were said to have been committed between December 2011 and November 2012.
He is accused of three counts of failing to exercise "reasonable diligence" in his discharge of duties as a director of Kassar Logistics, World Eastern International and Mega Zone International.
Abdul Ghani is said to have failed to take reasonable steps to ensure that the three companies were not used as a vehicle to allegedly commit money laundering in Singapore.
And because of this, the three local companies allegedly dishonestly received more than US$652,000.
Under the Companies Act, the maximum penalty is 12 months in jail and a S$5,000 fine on each count.
The other 20 charges stated that Abdul Ghani neglected his duties as a director of the companies, which resulted in the companies transferring more than US$1.3 million that were considered stolen property.
If convicted of those charges, one can be jailed up to seven years and fined S$500,000.