Peter Tham
Encyclopedia
Tham Wing Fai was a Singapore
an stockbroker and the director of Pan-Electric Industries
. A failure by him to observe a forward contract
agreement that he negotiated with Tan Koon Swan
was responsible for the company's collapse in 1985.
Tham left Singapore in 1984, before Pan-El collapsed. In April 1986, he was traced to Seattle in the United States
by FBI officials. He flew to Tokyo
, from where he was extradited back to Singapore, immediately arrested, and charged with 26 counts of helping Tan Kok Liang to make "fictitious sharetrading transactions." He was eventually sentenced to a total of 10 years in jail
—eight in 1986 for forging Pan-Electric share certificates and two in 1988 for criminal breach of trust. In February 1991, he was declared a bankrupt for owing S$ 25 million to various parties.
Tham was released from jail early, in 1992. He divorced his wife, Joyce Aw, whom he had married in 1973, and married Kok Mei Yee in 1995. In 1998, he was in trouble with the law again after Kok alleged that he had beaten her. She also informed the Official Assignee
that although he was still officially bankrupt
, he had been keeping a collection of antique longcase clock
s and Chinese pottery with a total value of S$400,000 in their Peck Hay Road apartment, without declaring them to the Official Assignee as was required by law. Although his wife later withdrew the private summons charge of assault, he was still being investigated for hiding personal assets and in May 2000, he was charged with hiding about S$ 1.7 million in cash, three cars and other items from the authorities. The trial was adjourned but when the case was next mentioned in September 2000, Tham's lawyer could not contact him and a warrant of arrest was issued for Tham.
Tham was later traced to the Indonesia
n island of Batam
, but has since disappeared again. In 2004, his story was re-enacted on an episode of MediaCorp
's Missing television series.
Singapore
Singapore , officially the Republic of Singapore, is a Southeast Asian city-state off the southern tip of the Malay Peninsula, north of the equator. An island country made up of 63 islands, it is separated from Malaysia by the Straits of Johor to its north and from Indonesia's Riau Islands by the...
an stockbroker and the director of Pan-Electric Industries
Pan-Electric Industries
Pan-Electric Industries was a Singapore-based company that specialised in marine salvage work, and had 71 subsidiary companies, including hotel and property interests, with a market capitalization of S$230 million. The company collapsed in 1985 due to unsettled forward contracts, forcing the stock...
. A failure by him to observe a forward contract
Forward contract
In finance, a forward contract or simply a forward is a non-standardized contract between two parties to buy or sell an asset at a specified future time at a price agreed today. This is in contrast to a spot contract, which is an agreement to buy or sell an asset today. It costs nothing to enter a...
agreement that he negotiated with Tan Koon Swan
Tan Koon Swan
Tan Koon Swan is a controversial Malaysian political and corporate figure, who was president of the Malaysian Chinese Association from November 1985 to September 1986.Tan first entered the political fray in the late 1970s...
was responsible for the company's collapse in 1985.
Tham left Singapore in 1984, before Pan-El collapsed. In April 1986, he was traced to Seattle in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
by FBI officials. He flew to Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
, from where he was extradited back to Singapore, immediately arrested, and charged with 26 counts of helping Tan Kok Liang to make "fictitious sharetrading transactions." He was eventually sentenced to a total of 10 years in jail
Prison
A prison is a place in which people are physically confined and, usually, deprived of a range of personal freedoms. Imprisonment or incarceration is a legal penalty that may be imposed by the state for the commission of a crime...
—eight in 1986 for forging Pan-Electric share certificates and two in 1988 for criminal breach of trust. In February 1991, he was declared a bankrupt for owing S$ 25 million to various parties.
Tham was released from jail early, in 1992. He divorced his wife, Joyce Aw, whom he had married in 1973, and married Kok Mei Yee in 1995. In 1998, he was in trouble with the law again after Kok alleged that he had beaten her. She also informed the Official Assignee
Official Assignee
An Official Assignee is an officer in the law court who distributes a bankrupt's assets to the creditors. He also assists the bankrupt to relieve of his obligations to the creditors....
that although he was still officially bankrupt
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
, he had been keeping a collection of antique longcase clock
Longcase clock
A longcase clock, also tall-case clock, floor clock, or grandfather clock, is a tall, freestanding, weight-driven pendulum clock with the pendulum held inside the tower, or waist of the case. Clocks of this style are commonly 1.8–2.4 metres tall...
s and Chinese pottery with a total value of S$400,000 in their Peck Hay Road apartment, without declaring them to the Official Assignee as was required by law. Although his wife later withdrew the private summons charge of assault, he was still being investigated for hiding personal assets and in May 2000, he was charged with hiding about S$ 1.7 million in cash, three cars and other items from the authorities. The trial was adjourned but when the case was next mentioned in September 2000, Tham's lawyer could not contact him and a warrant of arrest was issued for Tham.
Tham was later traced to the Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
n island of Batam
Batam
Batam is an island and city in Riau Islands Province of Indonesia, known for its free trade zone area as part of the Sijori Growth Triangle, is located off Singapore's south coast...
, but has since disappeared again. In 2004, his story was re-enacted on an episode of MediaCorp
MediaCorp
Media Corporation of Singapore, better known as MediaCorp, is a group of commercial media companies in Singapore, with business interests in television and radio broadcasting, interactive media, and, to a lesser extent, print publishing and film-making....
's Missing television series.