There’s a time and place for everything.
For example, if your friends ask for your address while sending you home, it’s fine to respond with “1600 Pennsylvania Avenue NW”.
Worst case scenario, they’ll dump you by the roadside and ask you to Grab.
But, it’s a different story when you’re a legit business. You can’t, for instance, provide a prestigious Paris address for your headquarter, only to be found out by journalists that your company isn’t even registered in France.
Somehow, Bellagraph Nova Group didn’t get the memo – because that’s exactly what they did.
Ernst & Young Filed Police Report
Someone had allegedly doctored images of Obama for Bellagraph Nova Group, someone had allegedly said Alan Shearer supports Bellagraph Nova Group in buying Newcastle FC and someone has indicated Bellagraph Nova Group has a prestigious address in France, but all those don’t warrant any police investigation unless Obama decided to make a police report. But the cool dude even brushes off allegations that he’s born in Mars so this shouldn’t even affect him a single bit.
But not Ernst & Young, one of the big four accounting firms in Singapore.
Singapore police are investigating a company over an issue of unauthorised signatures on its financial statements.
The company, Novena Global Healthcare Group, is owned by cousins Terence and Nelson Loh. It was incorporated in the Cayman Islands.
On Saturday (19 Sept), professional service provider Ernst & Young filed a report against the group after being falsely reported as its auditors.
“Ernst & Young LLP were the auditors of Novena Global Healthcare Pte Ltd (a Singapore incorporated company), a subsidiary of Novena Global Healthcare Group, for the financial year ended Dec 31, 2017,” said a spokesperson.
“We were not appointed as auditors of and did not sign off on the financial statements of Novena Global Healthcare Pte Ltd for any subsequent years.”
According to The Straits Times, Terence Loh has denied any wrongdoing through his lawyer.
Loh Cousins Also Head Bellagraph Nova Group
This isn’t the first time the Loh cousins have gotten into trouble for making questionable claims.
Earlier, the entrepreneurs, who head Bellagraph Nova Group along with a Chinese business partner, were attempting to buy Newcastle United.
The English Premier League football club became open for bidding after a Saudi-backed consortium withdrew its bid in late July, following months of waiting for a Premiere League approval.
However, the pair hit a snag when they admitted to fabricating photos of a meeting with former US President Barack Obama.
Reuters found the doctored photos and other marketing materials to contain multiple inconsistencies and errors.
They also failed to locate official online records of the group’s registration in France, nor its headquarter at its documented address.
Hydra X
Additionally, the group claimed financial technology firm Hydra X to be one of its entities. Hydra X is reportedly implementing a trading system for the Singapore Exchange.
Hydra X has since denied both claims. The Singapore Exchange also denied the claim concerning the trading system.
Nonetheless, BN Group head of investor relations Nereides Antonio Giamundo de Bourbon insists that the group owns Hydra X, which is in the process of merging with the group.
While only further investigations can clarify the various confounding statements, it’s best to keep our baseless claims within private limteh sessions lah.
Watch this for a complete summary of what REALLY happened to Qoo10, and why it's like a K-drama:
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