Re: BMW vs Audi
Just as a look into their colorful past...
CPIB: Cases involving public listed companies
Quoted Case
Singleton Marc Alexandra and Patrick Pow : ex-Directors of Performance Motors Limited
Singleton Marc Alexandra, the ex-Managing Director of Performance Motors Limited, was found to have accepted designer watches and handphone worth $150,538.93 given to him by the Managing Director of Teo Tian Seng Motor Credit Pte Ltd (TTS), an authorised BMW dealer appointed by Performance Motors Limited. The Managing Director had given the watches with the intention of inducing Singleton Marc Alexandra to continue awarding TTS the dealership for BMW cars. In addition, Singleton Marc Alexandra also asked for a bribe of $78,000 from the said dealer. In 2005, Singleton Marc Alexendra was charged in court for 14 counts of corruptly obtaining the above gratifications from Teo Tian Seng Motor Credit Pte Ltd and, after a protracted court trial, he was convicted and fined a sum of $185,000.
Another senior management staff of Performance Motors Limited, its Director of Sales & Marketing, Patrick Pow Kwok Yun, was also charged in court for corruptly receiving gratification in the form of gifts totaling $5,553/- and a loan of $60,000/- from Teo Tian Seng Motor Credit Pte Ltd (TTS). Patrick Pow was also found to have obtained loans totalling $82,000/- from Performance Motor's appointed sole finance agent, Skyway Credit & Leasing Pte Ltd (Skyway). Patrick Pow was charged in court for 8 counts of corruption offences under Section 6(a) of the Prevention of Corruption Act, Cap 241. He was convicted and fined $120,000, in addition to being ordered to pay a penalty of $142,000.
Just as a look into their colorful past...
CPIB: Cases involving public listed companies
Quoted Case
Singleton Marc Alexandra and Patrick Pow : ex-Directors of Performance Motors Limited
Singleton Marc Alexandra, the ex-Managing Director of Performance Motors Limited, was found to have accepted designer watches and handphone worth $150,538.93 given to him by the Managing Director of Teo Tian Seng Motor Credit Pte Ltd (TTS), an authorised BMW dealer appointed by Performance Motors Limited. The Managing Director had given the watches with the intention of inducing Singleton Marc Alexandra to continue awarding TTS the dealership for BMW cars. In addition, Singleton Marc Alexandra also asked for a bribe of $78,000 from the said dealer. In 2005, Singleton Marc Alexendra was charged in court for 14 counts of corruptly obtaining the above gratifications from Teo Tian Seng Motor Credit Pte Ltd and, after a protracted court trial, he was convicted and fined a sum of $185,000.
Another senior management staff of Performance Motors Limited, its Director of Sales & Marketing, Patrick Pow Kwok Yun, was also charged in court for corruptly receiving gratification in the form of gifts totaling $5,553/- and a loan of $60,000/- from Teo Tian Seng Motor Credit Pte Ltd (TTS). Patrick Pow was also found to have obtained loans totalling $82,000/- from Performance Motor's appointed sole finance agent, Skyway Credit & Leasing Pte Ltd (Skyway). Patrick Pow was charged in court for 8 counts of corruption offences under Section 6(a) of the Prevention of Corruption Act, Cap 241. He was convicted and fined $120,000, in addition to being ordered to pay a penalty of $142,000.
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