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On November 27, 2000 X10 Wireless had filed with the SEC for an for an initial public offering of 5 million shares to be priced at $15 to suck in $75 million from U. S. investors.
That put a market value on X10 Wireless of $376 million, of which $301 million would belong to the one Chung Hin Chew (aka Hin Chew Chung), and company. Chung ran the parent company, X10 Ltd, which was incorporated in Bermuda, out of an office in Hong Kong. The U.S. investors were purchasing a small shell of a company under the control of Chung and his X10 Ltd.
The X10 Wireless deal was described (and exposed) in Escape from Paradise. Just as our book was published, X10 Wireless was ready to go public on NASDAQ. The company even had a ticker symbol — “XTEN.”
We rushed our first copy of Escape from Paradise to the SEC, who thanked us for the book about “Hin Chew Chung,” the man behind X10 Wireless.
Immediately thereafter, on Sept. 26, 2001, the IPO of X10 Wireless was withdrawn.
Chung Hin Chew (aka Hin Chew Chung)
Chung Hin Chew (aka Hin Chew Chung)
Later, in 2003, X10 Wireless went into Chapter 11 bankruptcy and struggled to stay alive.
After years of struggle to stay alive, in August 2013, X10 Wireless went into Chapter 7 bankruptcy and was liquidated by the United States Bankruptcy Court, Western District of Washington in Seattle.
The court notified over 400 creditors and shareholders of the demise of X10 Wireless. We have the list—it’s public information—anyone can get it.
Shareholders of note who lost their investments in X10 Wireless were the Kim Eng guy, Douglas Ooi (step-nephew of Singapore’s ruler, Lee Kuan Yew) and Singaporean Low Kee Cheong.
Originally, Chung was from Brunei. After encountering some “difficulties” in Brunei, and being held for a year under house arrest by the Brunei authorities, he fled to Singapore.
Chung has flet to Malaysia at a very fashionable address:
54 Jalan Bruas
Damansara Heights
50490 Kuala Lumpur
Malaysia
Creditors who are interested should be able to reach him there.
more at: http://johnharding.com/2013/10/04/x10-liquidated-by-usbankruptcy-court/
That put a market value on X10 Wireless of $376 million, of which $301 million would belong to the one Chung Hin Chew (aka Hin Chew Chung), and company. Chung ran the parent company, X10 Ltd, which was incorporated in Bermuda, out of an office in Hong Kong. The U.S. investors were purchasing a small shell of a company under the control of Chung and his X10 Ltd.
The X10 Wireless deal was described (and exposed) in Escape from Paradise. Just as our book was published, X10 Wireless was ready to go public on NASDAQ. The company even had a ticker symbol — “XTEN.”
We rushed our first copy of Escape from Paradise to the SEC, who thanked us for the book about “Hin Chew Chung,” the man behind X10 Wireless.
Immediately thereafter, on Sept. 26, 2001, the IPO of X10 Wireless was withdrawn.
Chung Hin Chew (aka Hin Chew Chung)
Chung Hin Chew (aka Hin Chew Chung)
Later, in 2003, X10 Wireless went into Chapter 11 bankruptcy and struggled to stay alive.
After years of struggle to stay alive, in August 2013, X10 Wireless went into Chapter 7 bankruptcy and was liquidated by the United States Bankruptcy Court, Western District of Washington in Seattle.
The court notified over 400 creditors and shareholders of the demise of X10 Wireless. We have the list—it’s public information—anyone can get it.
Shareholders of note who lost their investments in X10 Wireless were the Kim Eng guy, Douglas Ooi (step-nephew of Singapore’s ruler, Lee Kuan Yew) and Singaporean Low Kee Cheong.
Originally, Chung was from Brunei. After encountering some “difficulties” in Brunei, and being held for a year under house arrest by the Brunei authorities, he fled to Singapore.
Chung has flet to Malaysia at a very fashionable address:
54 Jalan Bruas
Damansara Heights
50490 Kuala Lumpur
Malaysia
Creditors who are interested should be able to reach him there.
more at: http://johnharding.com/2013/10/04/x10-liquidated-by-usbankruptcy-court/
