CPIB assistant director charged with fraud, S$1.7m

[Charlie99]

I hope to be wrong here but something inside me tells me this chap could emulate TCW. I pray he won't. For the sale of his family.

I am also concerned that the accused, if found guilty, and sentenced to a long term in Changi, could take himself out of this world.

 

[Charlie99]

I gave up on my CPF $$$$$$ many years ago. The many times they changed goalposts tell me something may not be right. The only way to get your CPF is to surrender your IC while still alive.

The amount I may have in my CPF account is negligible, because I worked in SG for about 5 months (minus the month I spent at SATO), after graduation, before I left SG. May be less than $1,000.00.

 

[GoldenDragon]

Who?
Sorry, that I missed the earlier part or post(s).

Was referring to a junket known as Ngeow Cher who was very upset he did not get CRA's approval for a junket license to operate at our 2 casinos. His response? Bought a ship, renovated it and now uses it as a casino stationed in international waters off Batam.

 

[GoldenDragon]

If that is the case, then the Director of CPIB is equivalent in rank to a SAC in the SPF?

ET should be DC equivalent now. He was SAC equivalent at least 4-5 yrs ago. A posting in Prisons and he would have completed the Home Team cycle - SPF, ICA, CNB, ISD, SPS. I personally don't rule out ET returning to ISD as Director.

 

[GoldenDragon]

The AGC may have applied for a "mareva" injunction

I am sure CAD did. The last thing CAD needs is criticism over its investigation, similar to those from CPIB.

 

[Merl Haggard]

details of the sgd-denominated sgd5.44b financing of the mbs development and all coordinating banks and financial institutions and arrangers involved can be found here:

http://www.prnewswire.com/news-rele...r-marina-bay-sands-in-singapore-56798312.html

The loan of $5b plus you're talking about was arranged and packaged by DBS as lead manager in 2006 when William Weiner was still President of LVS.

By middle of 2008 construction work at MBS came to a complete standstill for about 8 months and that was when Sheldon personally came down to look for bailout.

 

[Merl Haggard]

Merl you seem to be very knowledgeable about this, I respect. Salute! Hope you made some money from this too. Cheers!

Joe, I'll be in Bangkok for 3 to 4 days.

For the convenience of shopping, do you recommend that I stay at the Eastin Grand Hotel or Siam Kempinski Hotel.

I used to stay at the Hyatt Erawan. Would these hotels be better than the Hyatt?

Also please recommend a good seafood restaurant, and I also like to buy some frozen crabmeat, prawns and lobsters back.

Thank you for assistance.

 

[Charlie99]

ET should be DC equivalent now. He was SAC equivalent at least 4-5 yrs ago. A posting in Prisons and he would have completed the Home Team cycle - SPF, ICA, CNB, ISD, SPS. I personally don't rule out ET returning to ISD as Director.

Is ET a SPF Overseas Scholar? Who is more senior NJH or ET? A senior person in the govt must like him?

 

[Scrooball (clone)]

Seriously head of CPIB should quit. After failing to nail Ng Boon Gay with corruption, kena this $1.7 mil stolen from under his nose.

 

[winnipegjets]

Seriously head of CPIB should quit. After failing to nail Ng Boon Gay with corruption, kena this $1.7 mil stolen from under his nose.

Him plus a minister from the PMO. There has to be ministerial accountability.

 

[winnipegjets]

ET should be DC equivalent now. He was SAC equivalent at least 4-5 yrs ago. A posting in Prisons and he would have completed the Home Team cycle - SPF, ICA, CNB, ISD, SPS. I personally don't rule out ET returning to ISD as Director.

ET must be like Gestapo/KGB chief ...most hated by critics of the government. If WP forms next government, ET must go on trial for all the dirty stuff he did for the PAP.

 

[winnipegjets]

Was referring to a junket known as Ngeow Cher who was very upset he did not get CRA's approval for a junket license to operate at our 2 casinos. His response? Bought a ship, renovated it and now uses it as a casino stationed in international waters off Batam.

PAP will kowtow to him and beg him to stop if MBS suffers.

 

[Narong Wongwan]

ET must be like Gestapo/KGB chief ...most hated by critics of the government. If WP forms next government, ET must go on trial for all the dirty stuff he did for the PAP.

I hope I live to see that day and add my sputum on his fuckface when he is hung on a flagpole.

 

[Narong Wongwan]

PAP will kowtow to him and beg him to stop if MBS suffers.

No need to beg. Pappies will just squeeze his balls in other areas.
Or play nice and give him some sweetener like the junket license. As of now the 2 IRs still got no junkets.

 

[Confuseous]

Seriously head of CPIB should quit. After failing to nail Ng Boon Gay with corruption, kena this $1.7 mil stolen from under his nose.

That's why the fella quickly took the fall, both for his political masters and his own job security.

 

[GoldenDragon]

Is ET a SPF Overseas Scholar? Who is more senior NJH or ET? A senior person in the govt must like him?

ET baru LMS, NJH OMS. Senior in age ET. BL.

 

[GoldenDragon]

Or play nice and give him some sweetener like the junket license. As of now the 2 IRs still got no junkets.

MBS openly declared they weren't keen on junkets. RWS has one, a Malaysian based comapny. Small timer.

 

[Charlie99]

ET baru LMS, NJH OMS. Senior in age ET. BL.

What was ET las rank at SPF?
AC?

 

[GoldenDragon]

What was ET las rank at SPF?
AC?

I believe he was ASP when he was seconded to ISD in the mid or late 80s. He left ISD for SIR as a Supt or DAC. More likely the latter. From SIR, he went to CNB and then returned to ICA (previously SIR). Next posting was to CPIB. Chose CPIB over DC SPF 'offer' and I know the reason why. ET wants to be number 1 even if entity is smaller.

 

[Merl Haggard]

I'm not sure what you mean by "substantial"; is it at least 5%?
If yes, do you know which brokers/subsidiaries GIC uses: http://investors.morningstar.com/ownership/shareholders-major.html?t=lvs


Wasn't it US$2 billion?
http://www.sammyboy.com/archive/index.php/t-21843.html
Or was another US$3+ billion pumped in later on?

Anyway, if you are right, Bloomberg also seems to have lied in late 2008 when it said this:
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a87XCYeeu1z4&refer=asia
"Las Vegas Sands, which owns the Venetian resorts in Las Vegas and Macau, said last month it has enough money to finish its Singapore casino without help from the city-state’s government after the company raised $2.1 billion."

Schwartz has since left the board of LVS in 2012 and I suspect that GIC might have taken their profits.

$2.1b is correct.....$5b was a typo error.