Former Eagle Hospitality Trust CEO Takoushian faces charges under Singapore's Securities and Futures Act for non-disclosure of security deposit shortfall, leading to a $341M loan default.
Former Eagle Hospitality Trust CEO Salvatore Gregory Takoushian is facing four charges under Singapore's Securities and Futures Act for consenting to non-disclosure of crucial information to avoid a false market. The charges involve the alleged failure to disclose the shortfall in security deposits between June 2019 and February 2020, leading to a $341M loan default. If convicted, Takoushian could face a fine of up to $250,000, imprisonment for up to 7 years, or both.
May 17, 2024
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