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laksaboy

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DOJ charges 7 Chinese execs, 4 companies in alleged conspiracy that drove up cost of global shipping​

Over four years, the Justice Department alleges, the suspects doubled the cost of the containers, which increased the manufacturers' profits by 100-fold during the 2020 pandemic.
https://justthenews.com/nation/crim...panies-conspiracy-drove-costs-global-shipping


Superseding Indictment : U. S. v. China International Marine Containers (Group) Co., Ltd. et al.
https://www.justice.gov/atr/media/1441281/dl?inline

Defendant SIONG SENG TEO, also known as and S.S. TEO, was employed by SINGAMAS as Chief Executive Officer and Chairman. TEO is believed to be a resident of the Republic of Singapore.

Singamas shares plunge after US DOJ allegations against CEO Teo Siong Seng​

May 21, 2026
https://www.straitstimes.com/busine...us-doj-allegations-against-ceo-teo-siong-seng

cac5535bc27a3dfd0f288291851a71fa401713fad916ba01ae7c632471135826
 

DOJ charges 7 Chinese execs, 4 companies in alleged conspiracy that drove up cost of global shipping​

Over four years, the Justice Department alleges, the suspects doubled the cost of the containers, which increased the manufacturers' profits by 100-fold during the 2020 pandemic.
https://justthenews.com/nation/crim...panies-conspiracy-drove-costs-global-shipping


Superseding Indictment : U. S. v. China International Marine Containers (Group) Co., Ltd. et al.
https://www.justice.gov/atr/media/1441281/dl?inline



Singamas shares plunge after US DOJ allegations against CEO Teo Siong Seng​

May 21, 2026
https://www.straitstimes.com/busine...us-doj-allegations-against-ceo-teo-siong-seng

cac5535bc27a3dfd0f288291851a71fa401713fad916ba01ae7c632471135826
He is our esteemed ex-NMP.555
 


Teo Siong Seng to take leave of absence from SBF, economic task force to deal with US allegations​


Responding to queries from The Straits Times, a Ministry of Trade and Industry (MTI) spokesperson on May 22 said Mr Teo had informed MTI of his decision to do so, citing the need to “focus his attention to addressing the indictment by the US Department of Justice”.

The ministry added that it is unable to comment further given the ongoing legal process in the US.

 
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