Singapore Court Adds Two More Charges to Briton in Wirecard Case
(Bloomberg) -- A Singapore court has charged 47-year-old U.K. national James Henry O'Sullivan with two additional counts of allegedly abetting falsification of documents, according to local police.Â
O'Sullivan allegedly helped Singaporean businessman R. Shanmugaratnam to falsify documents and issue letters that falsely claimed certain amounts of money were held in a bank under escrow, the Singapore Police Force said Thursday in a statement on its website.Â
Wirecard filed for bankruptcy in 2020 after acknowledging that 1.9 billion euros ($2 billion) it had listed as assets probably didn't exist.
How German Fintech Darling Wirecard Fell From Grace: QuickTake
O'Sullivan has also been charged with five counts on similar matters, the statement said.Â
On the same day, 58-year-old Thilagaratnam S/O Rajaratnam was also held responsible for allegedly failing to use reasonable diligence in the discharge of the duties of his office by confirming that Strategic Corporate Investments Pte, where he served as director, held the money under escrow in its bank account without checking whether the letter contents were true.
©2022 Bloomberg L.P.
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