Close X
Monday, November 11, 2024
ADVT 
International

Indian-Origin Magician Charged With Fraud In Singapore

IANS, 30 Jan, 2017 12:15 PM
    An Indian-origin magician here was charged in a court with multiple counts of helping others to fraudulently obtain Productivity and Innovation Credit (PIC) cash payouts and bonuses amounting to 1.1 million Singapore dollars (about $768,000), the media reported.
     
    S. Chandran, 35, owner of Paradize Consultancy, was charged on Friday and faced 58 charges under the Income Tax Act, the Strait Times reported. 
     
    He was accused of intentionally assisting 49 claimants to obtain cash payouts under the PIC scheme. The alleged offences occurred between June 2013 and November 2014.
     
    This is the biggest case involving an alleged PIC promoter to date, the report said.
     
    Chandran was offered bail of 200,000 Singapore dollars (about $139,000). He will return to court on February 3.
     
    The former IT instructor quit his job in 2008 to pursue his dream of being a magician, and became famous after winning the Best Variety Entertainer award by the US-based International Magicians Society in 2014.
     
    In a statement, the Inland Revenue Authority of Singapore (Iras) said that over the past year, it conducted extensive investigations into a number of suspicious PIC claims and many of the claims were linked to Chandran.
     
    Iras tax prosecutor Elisa Soh Hui said that Chandran acted as a PIC broker and received about 400,000 Singapore dollars ($279,000) from the payouts.
     
    The PIC scheme is meant for qualified businesses with real productivity-enhancing investments.
     
    It offers tax deductions or cash payouts to companies that invest in areas such as staff training, information technology or automation equipment to boost productivity.
     
    If convicted, Chandran could be fined up to 50,000 Singapore dollars ($34,000) or jailed for up to five years. 

    MORE International ARTICLES

    New Zealand Sees 'Catastrophic' Drop In Indian Student Visas

    New Zealand has seen a sharp drop in new study visas issued to Indian students in the past five months compared to earlier mainly due to tighter visa rules, a media report said on Wednesday.

    New Zealand Sees 'Catastrophic' Drop In Indian Student Visas

    Officials Say At Least 16 Sickened From Thanksgiving Meal

    Officials Say At Least 16 Sickened From Thanksgiving Meal
    San Francisco Bay Area health officials warned the public Tuesday to throw out any leftovers from a community Thanksgiving meal they suspect sickened at least 16 people, including three who died.

    Officials Say At Least 16 Sickened From Thanksgiving Meal

    PM Narendra Modi Leads Donald Trump, Vladimir Putin In Time's 'Person Of The Year' Poll

    PM Narendra Modi Leads Donald Trump, Vladimir Putin In Time's 'Person Of The Year' Poll
      Time said the reader poll is an "important window" into who they think most shaped 2016.

    PM Narendra Modi Leads Donald Trump, Vladimir Putin In Time's 'Person Of The Year' Poll

    Indian-American Top Real Estate CEO Sandeep Mathrani Might Join Trump Administration

    Indian-American Top Real Estate CEO Sandeep Mathrani Might Join Trump Administration
    Sandeep Mathrani, 54, the Chief Executive Officer of General Growth Properties, met the President-elect at the Trump Towers in New York yesterday.

    Indian-American Top Real Estate CEO Sandeep Mathrani Might Join Trump Administration

    Hijab-Clad Us University Student's Face Struck With Glass Bottle

    Hijab-Clad Us University Student's Face Struck With Glass Bottle
    A Hijab-clad Muslim student was allegedly struck in the face with a glass bottle in broad daylight at a university campus in the US, the latest in a series of hate incidents in which headscarf-wearing women have been targeted following Donald Trump's win.

    Hijab-Clad Us University Student's Face Struck With Glass Bottle

    Imran Khan Denies Accusations Of Money Laundering, Tax Evasion

    The PTI chief said that an advance payment of about Rs. 6.1 million was paid by him and Jemima Khan paid off the rest. Khan said that he has the documents to prove the transaction took place.

    Imran Khan Denies Accusations Of Money Laundering, Tax Evasion