Market Chatter: Byju Founder Given Six-Month Prison Sentence by Singapore Court

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Market Chatter: Byju Founder Given Six-Month Prison Sentence by Singapore Court

MT Newswires05-28 13:23

Indian technology firm, Byju's founder, Byju Raveendran, was given a six-month jail sentence by a Singapore court after disobeying multiple orders to surrender himself, according to a report by Bloomberg on Wednesday.

Citing people familiar with the matter, the report adds that Byjue was asked to pay SG$90,000 and furnish proof of his legal ownership in Beeaar Investco, which is a corporate entity holding shares in an associated company.

The founder is already facing claims from foreign investors across the globe, including a claim related to an SG$1.2 billion loan from US lenders, the report added.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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