Based on court documents, announcements by Oxley on SGXnet, and the Italian press, the furore surrounding corruption allegations against Venetian politicians have sucked in Ching and his property manager in Italy, Luis Lotti.
A report by alternative news media website Gutzy on July 24 and an AP News story on July 16 alleged that Oxley Holdings (SGX:5UX
) chairman Ching Chiat Kwong had paid EUR73,000 ($106,184 in today’s prices) into the accounts of councillor Renato Boraso to purchase Palazzo Papadopoli, a municipal property in Venice, Italy.
According to Italian media, Boraso is now in jail. After The Edge Singapore reached out to Ching to check the veracity of these reports, Oxley issued a clarification on July 24 and 25 via SGXnet explaining what transpired in Italy.
