MAN CHARGED FOR TAKING PART IN THE MANAGEMENT OF SEVEN COMPANIES WHILE BEING AN UNDISCHARGED BANKRUPT

A 47-year-old man has been charged in court on 18 June 2020 for contravening Section 148(1) of the Companies Act, and Section 148(1) of the Companies Act read with Section 109 of the Penal Code. He is alleged to have directly taken part in the management of seven companies between 22 April 2004 and 5 April 2017 whilst being an undischarged bankrupt, without permission from the court or the Official Assignee. Each offence is punishable with imprisonment for a term which may extend to two years or a fine of up to $10,000, or both.

 

These companies were in the business of operating medical clinics, and manufacturing and distributing medical supplies such as surgical gloves and masks.

 

Source: Singapore Police Force