SINGAPORE (April 6): Singapore’s Commercial Affairs Department (CAD) has raided the offices of YuuZoo as part of its investigation on possible breaches of the Securities and Futures Act.
(See: YuuZoo confirms CAD investigation into company and chairman Zilliacus)
(See also: SGX reports YuuZoo to 'relevant authorities' for possible breach of Securities and Futures Act after issuing notice of compliance)
During the raid, the CAD seized valuation reports, audit plans and materials prepared by various professionals, several hard disks, chargers and/or adapters of certain employees.
Furthermore, the CAD has interviewed the group’s chairman, Thomas Zilliacus, and its head of franchise management in 2015, Sebastian Zilliacus... (Click here to read the full story)