SINGAPORE – The co-founder of Novena Global Healthcare Group (NGHG), who duped banks into disbursing more than $69 million in loans to his company and a wine trading company he had influence over, was jailed for 15 years and nine months on Aug 16. Nelson Loh Ne-Loon, 45, admitted to nine charges – four for cheating, three for money laundering...
Nelson Loh admitted to nine charges – four for cheating, three for money laundering and two for forgery.SINGAPORE – The co-founder of Novena Global Healthcare Group , who duped banks into disbursing more than $69 million in loans to his company and a wine trading company he had influence over, was jailed for 15 years and nine months on Aug 16.
The notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action. In addition to his directorships within NGHG, Loh also held a decision-making position in Giron, a local wine trading company, as Giron’s directors included his former wife and his cousins, said the prosecutor.
Deputy Public Prosecutor Ng Yiwen sought a jail term of between 16 and 18 years for Loh, and nine to 12 years for Wong. In mitigation, Loh’s defence lawyers Eugene Thuraisingam, Ng Yuan Siang and Chooi Jing Yen argued that their client did not commit his offences due to personal greed or self-interest, but because NGHG was facing financial difficulties, and his main motivation was to alleviate these difficulties.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nelson Loh, Singaporean linked to Newcastle United takeover bid, jailed 15 years and nine monthsLoh faced a total of 60 charges, including over cheating, forgery and money laundering.
Read more »
Singaporean previously linked to Newcastle United takeover bid jailed 15 years and nine monthsNelson Loh and his employee Michael Wong had been on the run for more than two years before they were detained in Shanghai.
Read more »
Singaporean linked to Newcastle United takeover bid, jailed 15 years and nine monthsHe faced a total of 60 charges, including over cheating, forgery and money laundering.
Read more »
Fun With Kids: Minions at Universal Studios Singapore; Singapore Art Museum’s Learning GalleryMake family time all the more special with these ideas and activities.
Read more »
Why Singapore firms are entering the German market, and how Enterprise Singapore is helping themEnterprise Singapore, which champions internationalisation, said it has seen a spike in companies exploring opportunities in Europe post-pandemic.
Read more »
Singapore Theatre Company returns to Singapore Repertory Theatre name after contentious rebrandTheatremakers who objected to the name change in February welcome SRT's latest announcement.
Read more »