GIN's Investigation: Recieved a letter from Singapore
Hey All
Got an official email from the Singapore authorities. Here is part of it. I just may get some money back!
"Dear Sir/Madam
We understand that you have invested with Ginsystem Inc.
Please be informed that we have prosecuted Dr Tan Poh Choon (?accused?),
a director of Ginsystem Inc in the Subordinate Courts in Singapore for
offences of cheating in relation to Ginsystem?s Dynamic 2% investment
scheme and an offence of consenting to Ginsystem Inc holding itself out
to be carrying on the business in fund management without a capital
markets service licence.
On 28 September 2005, the accused pleaded guilty to the charge of
consenting to Ginsystem Inc holding itself out to be carrying on business
in fund management without the requisite licence. He was fined S$50,000
(in default 5 months? imprisonment) on 13 December 2005. Accused paid the
fine.
The Subordinate Courts in Singapore had convicted the accused on 10
counts of cheating and sentenced him to a total of 18 months?
imprisonment on 15 December 2005. He appealed against conviction and was
released on bail pending his appeal. There were 59 counts of cheating
charges outstanding against him.
On 3 March 2006, a pre-trial conference was held at the Subordinate
Courts in Singapore for the accused to answer to the outstanding 59
cheating charges. However, the accused failed to appear in Court and a
Warrant was issued for his arrest.
On 2 May 2006, the appeal on the conviction for the 10 counts of cheating
charges against the accused was heard in the High Court in Singapore. The
appeal was dismissed.
The Singapore Police has seized some monies in the course of the
investigation into Ginsystem Inc. Police will be seeking a Court order on
its distribution. Our investigations revealed that you have invested with
Ginsystem Inc.
Please let us know whether you wish to lay a claim on the monies. If so,
we need to verify your investment. Please complete the attached form
(below) stating the date(s) and principal sum(s) of your investment, the
date(s) and amount withdrawn (if any), and enclose copies of any
documents to support your claims.
All substantiated claims will be collated and submitted to the Court for
a decision on the distribution of the monies recovered. If there is any
money due to you, the amount after deduction of administrative
costs and bank charges, is likely to be remitted to your designated bank
account by bank transfer (for claimants residing in Singapore) or by
telegraphic transfer (for claimants residing outside Singapore). As such,
please provide us with details of a valid bank account to receive the
money in the form."
