Tag: Lee SWEE ENG

Court documents reveal that KNM Group CEO Lee Swee Eng has been charged with insider trading, avoiding a RM 3.67 million loss by selling shares with insider knowledge. This follows prior reprimands and fines for eight KNM board members, including Lee. Shareholders may be entitled to damages.

Southeast Asia faces numerous financial crimes, from corporate fraud to pyramid schemes. Notable cases include KNM Group's listing requirements breach, Sunshine Empire's Ponzi scheme in Singapore, and Emgoldex's pyramiding scam in the Philippines. These frauds highlight the need for stronger regulations and investor vigilance.

Malaysia faces backlash due to political and corporate scandals, including the 1MDB scandal and KNM Group CEO Lee Swee Eng's involvement in financial irregularities. Analysts argue that weak government policies are to blame for the recurring corporate misdeeds, urging stronger enforcement and transparency to restore public trust and investor confidence.

The ICIJ Offshore Leaks Database suggests KNM Group Bhd directors, including Lee Swee Eng and Gan Siew Liat, were secret owners of offshore companies linked to Deutsche Bank's subsidiary REGULA LIMITED. This connection raises questions about potential involvement in the ongoing Deutsche Bank money laundering investigation.

KNM Group's Director and CEO Lee Swee Eng, along with Director Chew Fook Sin, were found guilty by the Indonesian Supreme Court of harming creditors by illegally transferring assets from a bankrupt company. This ruling raises questions about asset recovery, impact on creditors, and lack of disclosure to KNM shareholders. Court documents and decisions are available at the end of the story.