Four companies linked to penny stock debacle asked by CAD to provide more information
Published on Apr 30, 2014 4:11 PM
Four of the eight listed companies being probed over the penny stock rout that wiped out billions of dollars in market value last October were asked yesterday to provide more data to the authorities.
These include Annica Holdings, Magnus Energy Group, Blumont Group and LionGold Corp.
The request for further data comes after the Commercial Affairs Department (CAD) seized computers, data storage devices and financial records from eight firms and their subsidiaries starting April 2 as part of a sweeping probe into trading irregularities in Blumont, Asiasons Capital and LionGold Corp.
The CAD yesterday asked Annica and a subsidiary, Nu-Haven Inc, to provide accounting records, minutes of meetings and resolutions and other documents for the period from Jan 1, 2011 to March 31.
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