The MAS found that Shim, Doo and Tan had “connived in Envysion’s failure” to put in place an appropriate risk management framework with regards to its assets under management of the fund.
Three former C-suites of Envysion Wealth Management, the fund management company linked to the $1 billion nickel trading scam first uncovered in 2021, have been charged in court today, according to a release by the Monetary Authority of Singapore (MAS).
Former CEO Shim Wai Han, former CIO Doo Chun Ki, and former COO and CCO Tan Kay Siong were charged under the securities and futures (licensing and conduct of business) regulations (SF(LCB)R) and the securities and futures act (SFA).
