Healthcare Group Co-Founder Nelson Loh Arrested & Charged For Forgery Offences
The co-founder of Novena Global Healthcare Group (NGHG), Nelson Loh, went on the run back in 2020 with his employee, Michael Wong.
Both men had links to forgery offences. Police subsequently issued an arrest warrant in addition to an Interpol Red Notice.
The notice requests that law enforcement units worldwide locate and provisionally arrest an individual pending extradition, surrender or other legal action.
Both men were arrested and extradited to Singapore earlier this month, and they were charged in court on 26 Dec.
Healthcare group co-founder Nelson Loh arrested and charged
Loh and his cousin, Terence Loh, were co-founders of NGHG but had legally separated their business interests in October 2020. They were both declared bankrupt due to loans owed to various banks.
NGHG was in the news for failing to file their annual returns and was ordered by the High Court to wind up for failing to pay off their loans of more than S$14 million.
The Straits Times (ST) reports that both Loh and Wong left Singapore back in early September 2020.
Source: Asia Times
Shortly after, police received a report stating that signatures by accounting firm Ernst and Young on some of NGHG’s financial statements were forged.
The signatures had allegedly been forged on audited NGHG financial statements in 2019. Both men then used the documents to take out bank loans that came up to S$18 million.
Loh allegedly forged Ernst and Young’s electronic signature on NGHG’s 2018 financial statements and used the documents for loans from Standard Chartered Bank for the company.
He then repeated his actions to take loans from Maybank Singapore in October 2019.
On both occasions, Wong allegedly submitted the documents. He is charged with cheating the banks of disbursing loans of $15 million and $3 million to NGHG.
Face up to 10 years in jail
According to Channel NewsAsia (CNA), they returned to Singapore on 24 Dec with the aid of authorities in China.
The Commercial Affairs Department arrested them on the same day.
Both men received the same charges of two counts of forgery offences. They face a jail term of up to 10 years and a fine.
The Commercial Affairs Department Director David Chew said:
The Police will do whatever is necessary and legally permissible to detain and repatriate individuals hiding overseas, to face justice in Singapore.
He also stated that the department will continue to work with Interpol and overseas partners to locate individuals who have gone abroad after committing crimes in Singapore.
In addition, he thanked the Ministry of Public Security in China for their support and cooperation in helping to bring both individuals back to Singapore.
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Featured image adapted from Korea-China Young Leaders Association on YouTube and MS News.
