SINGAPORE (July 5): New evidence of alleged fraud has been presented against Midas Holdings by Jilin Provincial Micro Refinancing Corp in the first hearing which took place on June 26 in the Jilin High People’s Court.  

In its filing on Wednesday evening, the indebted train parts manufacturer flagged a number of suspicions raised by on loan guarantees for three loans made by its subsidiary, Jilin Midas, for up to RMB 400 million ($82.3 million) from Jilin Provincial Micro Refinancing.

See: CAD launches investigations into Midas

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