Tycoon Soh Chee Wen's request to return to Malaysia denied
Businessman John Soh Chee Wen’s request to return to
Malaysia was rejected by the courts on Wednesday after the prosecution
indicated that charges of false trading may be filed against the Malaysian.
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Yahoo News
Businessman John Soh Chee Wen’s request to return to Malaysia was rejected by the courts on Wednesday after the prosecution indicated that charges of false trading may be filed against the Malaysian.
In April 2014, the Commercial Affairs Department (CAD) began an investigation into the trading of listed firms Blumont Group, LionGold Corp and Asiasons Capital after their stock prices crashed in October 2013, wiping out S$8 billion in market value.
At the High Court on Wednesday, public prosecutor Gordon Oh said the investigation into the case was nearing its end and that Soh could be the “mastermind” behind the crash in penny stocks.
Oh expects the businessman, who is currently out on bail of $500,000, to be charged by August or “no later than end of this year”.
Soh’s passport has been impounded with the CAD.
At the start of the proceedings, defence lawyer Tan Chee Meng told the court that Soh would like to return home to see his ailing mother and attend his son’s wedding (20 Feb). It was claimed that Soh’s mother has dementia.
Oh noted that if Soh happened to be in Malaysia when investigation were completed, the authorities would be required to issue an arrest warrant while he was across the border. He added that the process “is not instantaneous”, pointing out that “time is of the essence” when such situations arise.
Oh also highlighted to the court the possibility of Soh requesting for a plea bargain before coming back to Singapore, if he were to be permitted to return to Malaysia temporarily. Soh had a plea bargain when he was involved in a separate case in Malaysia, in 1999.
Tan argued that the Malaysian authorities had not imposed on him restrictions to travel and that Soh would not be a flight risk.
Judge of Appeal Chao Hick Tin, noted that the medical records of Soh’s mother did not state that she has dementia, and that her other diseases, which includes diabetes, are all pre-existing.
After exiting the high court, Soh told reporters that his family will be visiting him in Singapore for Chinese New Year and that his son will be seeing him after the wedding.