Singapore Regulator Sues to Freeze China Sky Ex-CEO Funds
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The Monetary Authority of Singapore is seeking a court order to freeze the funds of Huang Zhong Xuan, the former chief executive officer of China Sky Chemical Fibre Co., which is being probed for regulatory breaches.
The financial watchdog wants to restrain Huang, a Chinese national, from taking or sending money out of his Credit Suisse Group AG account in Singapore as China Sky and its directors may be fined as a result of the probe, according to papers filed with the city’s High Court on March 28.