Richard Wan is the CEO of E-Book Systems, a technology company that he set up with co-founder/President Dr Ho Seng Beng, a researcher working for Temasek Laboratories, a research unit of NUS. E-Book Systems is funded by angel investors, including a prominent figure Ng Kai Wa, one of the co-founders of Creative Technology. Millions were poured into the company, and Richard Wan told the press that the company has plan to list in SGX in 2002. However, after taking millions, this plan never materialise. After Joseph Ong left TRE, Richard Wan took over the website. The question is did Richard Wan used fund from E-Book Systems to bankroll TR Emeritus? As CEO, Richard Wan is probably entrusted with the company finance, since Dr Ho is busy with his numerous patents, as well as his work at Temasek Laboratories. If Richard Wan is using E-book systems to fund TR Emeritus, then we are looking at misappropriation of fund here. Dr Ho Seng Beng should be made known about Richard Wan's activity with TRE, and audit the company finance ASAP.