Profitable Plots Sends Lawyer’s Letters To SIAS and CEO
According to the 09th November 2011 edition of Today (Profitable Plots sends legal letters to SIAS, CEO), Securities Investors Association of Singapore (SIAS) and it’s CEO, Mr David Gerald, have received lawyer letters from Profitable Plots on the latter’s consideration of defamation suit against SIAS and Mr Gerald regarding Mr Gerald’s comments in a webcast on SIAS’s website.
According to SIAS’s website, SIAS is a non-profit organization founded in 1999 to champion CLOB issues after US$5b worth of Malaysian stocks from 172,000 retail investors were left stranded after the Malaysian government suddenly froze their investments in Malaysian stocks in September 1998.
Meanwhile, the Court has granted another 4 months extension to the Commerical Affairs Department’s (CAD) investigation on Profitable Plots on the grounds of needing more time to evaluate experts’ reports on the case. CAD has visited Unite States and has collected more information.
The next hearing is on 08th March 2012.