First, it admitted to photoshopping marketing photos with former U.S. President Barack Obama. And now, Axington Inc., a tax-services firm listed in Singapore that’s controlled by two of BN Group’s founders, halted trading after a 14% plunge Tuesday on a report that the regulatory arm of the city-state’s bourse recommended an investigation into the suitability of its board of directors. The third BN Group founder, Evangeline Shen, serves as a non-independent, non-executive chairman at Axington.
The news came as a surprise: This month a Singapore-registered company bid to buy Newcastle United Football Club in the U.K.
The company in question, Bellagraph Nova (BN) Group, has since come under increased scrutiny.
