Imagine trying to buy a football club but ending up on the Interpol Red Notice. Yeah, that’s Nelson Loh’s life alright.
In a series of events that went wrong in all possible directions, the chase for Loh has finally come to an end.
Recap of the Nelson Loh Saga
So, how did this crazy chase come about?
In 2020, the three co-founders of the Novena Global Healthcare Group (NGHG), Chinese entrepreneur Evangeline Shen, local entrepreneurs Nelson Loh and his cousin, Terence Loh, put in a bid to purchase the English Premier League club Newcastle United at £280 million (S$490 million at the time).
In doing so, the company was put under the limelight, and some inconsistencies were soon uncovered. There were concerns regarding the altered images used in its marketing materials, particularly the one supposedly taken with Obama.
Later, the image was revealed to have been doctored.
Wait, there’s more: the company showed that it truly went above and beyond when accounting firm Ernst & Young (EY) made a police report over some financial statements of NGHG which bore unauthorized EY signatures.
Daryl Aiden Yeow clearly has some competition.
The group was also relatively obscure despite its claims that it had 31 business “entities” globally, with 23,000 employees and a group revenue of US $12 billion (S$16.43 billion) in 2019.
All these claims, however, were not substantiated by queries by the media.
Funny enough, a year later, Nelson Loh was reportedly declared bankrupt with debts of about $70 million.
He ran away from Singapore when the scandal escalated in a cowardly fashion: by making sure everyone around him is responsible for the aftermath of his problems. Mainly Terence, who had to clean up the mess, but even including his ex-wife, who was the guarantor for one of his bank loans.
In fact, almost everyone involved in this business deals as a guarantor had to declare bankruptcy.
Catching Nelson Loh
Both Nelson Loh and his employee Wong Soon Yuh, both 43, had left Singapore back in 2020, a few weeks after the controversies over NGHG blew up.
Soon, both became the subjects of arrest warrants and Interpol Red Notices, which are requests to law agencies worldwide to seek and temporarily detain a person pending extradition, surrender, or other legal action.
On Saturday (24 December), both were caught hiding in China. Following their detention by Chinese officials, the two were brought back to Singapore and arrested by the Commerical Affairs Department.
Ah, a wonderful Christmas present for those after his neck.
According to a statement from the police, they were given two charges of forgery to answer in court on Monday.
Investigations are still ongoing.
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