End of NKF saga
Matilda Chua was fined $10k for falsifying accounts unrelated to the NKF saga. And this marks the closing of an ugly and amusing chapter of corporate governance and how public donations to charities were simply money under the bridge. On record, former chairman Richard Yong and ex treasurer Loo Say San were fined $5k each for their parts in the saga. The CEO Durai was jailed for 3 months for deceiving the NKF. He is appealing and has yet to serve his sentence, I think. He is probably employed by a big company working in the Middle East as a CEO or something like that. Justice has been done. What happened to all the missing loot? Were they recovered and how much were recovered? God knows. Waiting for a summation of the case in the msm to mark the official conclusion of the case. And nothing more was heard of the infamous Aboobacker. Lucky fellow. How would the ending and punishment affect future corporate governance? Would people be encouraged to repeat the saga, after all it is only a few thousand dollars to pay and the rewards and perks were more than one can bargain for? All in all, the story has a happy ending.