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CAD Appointing Accounting Firm In Profitable Plots Probe

Written By: Tiang Chuan on March 10, 2011 No Comment

In the continuation of the court case between the Criminal Affairs Department (CAD) and Profitable Plots as reported by the 10th March 2011 edition of The Straits Times (CAD wrapping up Profitable Plots probe), district Jude Roy Neighblour has ‘ordered CAD to provide the next update on July 8‘. It was also reviewed that ‘the police are in the process of appointing an accounting firm to help produce an expert report on the case and are also waiting for response from foreign law enforcement agencies that are assisting in the investigation‘.

Profitable Plots has applied for the release of the remaining funds froze by CAD. According to Mr Wendall Wong of Drew & Napier, the lawyer representing Profitable Plots, ‘Liquidation is a very real option that has to be considered. The company is now gasping for air; if it is starved of oxygen, it dies.’

Readers can access a separate report on Today paper here.

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