Malaysian A$6 Billion Businessman Arrested In Melbourne
The difference in the standards of prosecution here and in Australia is very apparent in this case. How often have we charged someone who claims to have billions? Unless of course we are blessed in having only tycoons who are puritans! We should take a leaf from the Aussie practice in dealing with high profile crime. Read on....
....A Malaysian businessman who once claimed directorship of a A$6 billion banking group was arrested this week on his return to Melbourne from overseas, The Age newspaper reported. Authorities executed an outstanding warrant for Adrian Ong's arrest when he flew into Melbourne Airport on Monday night, after leaving Australia in 2004.
Ong, 45, also known as Ong Chee Beng and Chee Ong, is a Malaysian citizen and permanent resident of Australia whose background is investment banking, the newspaper said. The Australian Securities and Investments Commission (Asic) charged Ong in September 2004 after he left Australia and following an investigation into the Collins Street company, Commercial IBT.Ong appeared in the Melbourne Magistrates Court yesterday charged with obtaining a financial advantage by deception and three counts of dishonestly using his position as a director.
After his release on bail, Ong told The Age: "There could be a bigger story once all this ends." He denied the allegations, saying that he would defend them and adding that he had been the victim of threats. Prosecutor Ken Wiltshire earlier told the court that Ong had urged the Bendigo Bank to remove documents from its files and replace them with others during inquiries by Asic. The offences are alleged to have occurred between 2002 and 2003 and involved overdraft and leasing facilities and corporate credit cards, the newspaper said.
Before CIBT was wound up in November 2004, Asic said that three months earlier, and three days before Asic's request for the appointment of a liquidator, the company's shareholders cancelled more than A$2 billion in shares, leaving CIBT with a share capital of A$2. The following December, Asic accused Ong of trying to cloak the activities of the Malaysian-registered CIBT, later renamed Kantoch, and its shareholders from proper security.
Magistrate Charlie Rozencwajg released Ong on bail with special conditions that he report to police, surrender his passports, not attend international points of departure and not leave Australia.Ong, who was also ordered to stay at a unit in Queens Road, Melbourne, has to appear in court again on Aug 10.-- BERNAMA
....A Malaysian businessman who once claimed directorship of a A$6 billion banking group was arrested this week on his return to Melbourne from overseas, The Age newspaper reported. Authorities executed an outstanding warrant for Adrian Ong's arrest when he flew into Melbourne Airport on Monday night, after leaving Australia in 2004.
Ong, 45, also known as Ong Chee Beng and Chee Ong, is a Malaysian citizen and permanent resident of Australia whose background is investment banking, the newspaper said. The Australian Securities and Investments Commission (Asic) charged Ong in September 2004 after he left Australia and following an investigation into the Collins Street company, Commercial IBT.Ong appeared in the Melbourne Magistrates Court yesterday charged with obtaining a financial advantage by deception and three counts of dishonestly using his position as a director.
After his release on bail, Ong told The Age: "There could be a bigger story once all this ends." He denied the allegations, saying that he would defend them and adding that he had been the victim of threats. Prosecutor Ken Wiltshire earlier told the court that Ong had urged the Bendigo Bank to remove documents from its files and replace them with others during inquiries by Asic. The offences are alleged to have occurred between 2002 and 2003 and involved overdraft and leasing facilities and corporate credit cards, the newspaper said.
Before CIBT was wound up in November 2004, Asic said that three months earlier, and three days before Asic's request for the appointment of a liquidator, the company's shareholders cancelled more than A$2 billion in shares, leaving CIBT with a share capital of A$2. The following December, Asic accused Ong of trying to cloak the activities of the Malaysian-registered CIBT, later renamed Kantoch, and its shareholders from proper security.
Magistrate Charlie Rozencwajg released Ong on bail with special conditions that he report to police, surrender his passports, not attend international points of departure and not leave Australia.Ong, who was also ordered to stay at a unit in Queens Road, Melbourne, has to appear in court again on Aug 10.-- BERNAMA
posted by The Malaysian. at 7/06/2006 01:32:00 PM
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