Boron Scheme Not Sustainable – Court Told
By Financial Planning Central  •  April 25, 2013

In the continuation of the hearing of the Profitable Plots case, a prosecution witness told the Court yesterday that the Boron scheme was “not viable”, reports the 25th April 2013 edition of The Straits Times (Investment scheme was ’not viable’).

A  specialist in evaluating business sustainability from auditing firm Ernst & Young, Accountant Andre Toh Sern told the Court that the Boron scheme had US$4m in cash balance in November 2008 by had dwindled to just US$406,000 by August 2010 as payments exceeded revenue.

Just US$215 worth of Boron products was sold in Singapore during November 2008 to August 2010 when the brochure on the Boron scheme stated that the products had been pre-sold to major corporations.

The trial continues.


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By Financial Planning Central
Tiang Chuan is a Independent Financial Adviser (IFA) with PromiseLand Independent Pte Ltd, an Independent Financial Advisory Firm. One of the reasons that propel him to join the Financial Advisory industry is the realisation of the importance of proper Financial Planning due to the experiences in his growing-up years. Read about his story to know more about what he went through

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