\n<\/p>\n
SINGAPORE \u2013 The owner of Eminent Frog Porridge, a popular eatery in Geylang, has been charged with evasion of taxes amounting to nearly $3.8 million.<\/p>\n
Buntono, 49, who goes by only one name, was on July 3 also charged with dealing with the benefits of his alleged criminal conduct.<\/p>\n
The cash and assets allegedly laundered include more than $2.4 million in cash, a landed property in Brockhampton Drive in Serangoon Gardens, and a Lamborghini Aventador.<\/p>\n
Court documents did not disclose the values of the house and the car.<\/p>\n
The court handed down 30 charges in total, comprising three counts of money laundering and 27 counts of tax-related offences.<\/p>\n
Buntono, a Singaporean, had allegedly understated his trade income for assessment years 2016 to 2024, resulting in close to $2 million of income tax being undercharged.<\/p>\n
He is said to have separately perpetuated fraud by deliberately concealing the liability of his businesses to be registered for Goods & Services Tax (GST), which resulted in an undercharging of about $1.8 million in GST.<\/p>\n
In a joint statement, the Inland Revenue Authority of Singapore and the Singapore Police Force said that the two agencies had launched a joint probe into the case.<\/p>\n
Failure to register for GST is an offence and businesses may face penalties of 10 per cent of GST and fines of up to $10,000, said the agencies.<\/p>\n
For each count of money laundering, an offender can be jailed for up to 10 years, fined up to $500,000, or both.<\/p>\n
Buntono\u2019s case will be mentioned again in court in August.<\/p>\n<\/div>\n
\n
SINGAPORE \u2013 The owner of Eminent Frog Porridge, a popular eatery in Geylang, has been charged with evasion of taxes amounting to nearly $3.8 million….<\/p>\n","protected":false},"author":1,"featured_media":65776,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[2611],"tags":[],"class_list":["post-65775","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-headlines","wpcat-2611-id"],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/65775","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=65775"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/65775\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/65776"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=65775"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=65775"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=65775"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}