"In his role as the sole director of Oasis, Leo did not exercise any supervision over the company's affairs and failed to monitor the business activities in its two corporate accounts," the police said.
Between March and May 2019, criminal proceeds totalling US$204,901 were channelled through the accounts. "The criminal proceeds originated from several victims, who had made the transfers believing that they were purchasing investment shares," the police added.
"In particular, Leo had received a warning from the Police in early 2019 to refrain from giving up control over his bank accounts to others, and was informed that he may be exposing himself to criminal liability if he continued to do so," the police said. "He had also received multiple fund recall requests from banks regarding suspicious transactions using Oasis' bank accounts.
"To avoid being an accomplice to crimes, members of the public should reject requests from others to register companies and/or open bank accounts or receive money in their bank accounts as they will be held accountable if these are linked to criminal activities," the police said.
Source: News Formal (newsformal.com)
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