Man behind firm that invented thumb drive fined $80,000 for failing to announce transactions

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Man behind firm that invented thumb drive fined $80,000 for failing to announce transactions
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SINGAPORE - Despite being involved in payments that amounted to over US$10.5 million (S$14.4 million), Singaporean Henry Tan failed to disclose these transactions made between his mainboard-listed company and two other companies.. Read more at straitstimes.com.

SINGAPORE - Despite being involved in payments that amounted to over US$10.5 million , Singaporean Henry Tan failed to disclose these transactions made between his mainboard-listed company and two other companies.

Four other charges were taken into consideration, and he also faces nine other outstanding charges which are scheduled for a pre-trial conference on Sept 10. Being a mainboard-listed company, the group was required to immediately announce these transactions since the aggregate value of all transactions with each company that financial year was 3 per cent or more of the group's latest tangible assets.

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