Singapore police probes Blumont, Asiasons bosses on trading brouhaha

MAS also steps in.

The Commercial Affairs Department (CAD) of the Singapore Police Force has commenced an investigation into possible breaches of the Securities and Futures Act (Cap. 289) arising from suspected trading irregularities in the shares of Asiasons Capital Limited, Blumont Group Ltd and LionGold Corp Ltd. CAD is working jointly with the Monetary Authority of Singapore in the investigation.

In a separate statement, Bluemont confirmed that they have received a notice from the Commercial Affairs Department of the Singapore Police Force requiring its subsidiary G1 Investments’ assistance with the CAD’s investigations into an offence under the Securities and Futures Act (Chapter 289).

"The CAD has requested for access to, amongst others, all corporate electronic data from 1 January 2011 to-date, information technology equipment and data storage devices (if any) belonging to Mr. Neo Kim Hock, the Executive Chairman of the Board, and Mr. James Hong Gee Ho, Executive Director of the Company," said Blumont in a statement.

Meanwhile, LionGold also said that it will provide access to all corporate electronic data, information technology equipment and data storage devices belonging to Lynne Ng Su Ling and Peter Chen Hing Woon.
Lynne Ng Su Ling is a non-executive, independent director of the company and Peter Chen Hing Woon is an employee.