You will be redirected back to your article in seconds

Film Financier Devesh Chetty Jailed in Singapore

Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery.

The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain.

Chetty, an Australian national, resident in Singapore, was previously CEO of RGM Entertainment, the production arm of leading Australian talent agency RGM. The MDA agreed to invest a total of S$27.5 million in RGM Entertainment – an initial S$2.5 million for the company to locate in Singapore, a further $10 million for a film production fund, then S$5 million as seed money for an RGM fund with 20th Century Fox and a further S$10 million for another RGM fund with Sony Pictures Entertainment.

In November 2011 Chetty committed forgery by changing the dates and details of two emails to show that the S$15 million of MDA finance in connection to the Fox and Sony deals was still in RGM Entertainment’s bank account.

The following year, via his private company Sachmo International, Chetty borrowed S$2 million from businessman Garett Lim in order make a bid for the Village Roadshow-owned portion of shares in Golden Village. Chetty again committed forgery by changing the details of a bank statement he showed to Lim in order to prove that his money had not been misappropriated.

Chetty has since been declared as bankrupt by the High Court and his businesses wound up. RGM Entertainment is also in liquidation. Neither the S$15 million of MDA nor the S$2 million of Lim’s money has been recovered.

More Biz

  • Paul Simon

    Paul Simon to Stage 'Unique' Farewell Concert at Queens' Flushing Meadows Corona Park

    Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery. The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain. Chetty, an Australian national, […]

  • Merger Angst Warner Media

    High Anxiety: WarnerMedia Staff Braces for New Boss as AT&T Takes Control

    Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery. The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain. Chetty, an Australian national, […]

  • Bob Iger arrives at the Oscars,

    Bob Iger: Disney Has 'Much Better' Chance of Closing Fox Deal Than Comcast

    Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery. The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain. Chetty, an Australian national, […]

  • Brian Roberts, Bob Iger Battle Over

    Brian Roberts and Bob Iger Go Head-to-Head in the Battle for Fox

    Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery. The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain. Chetty, an Australian national, […]

  • Disney Fox Merger Illustration by Rob

    Disney Ups Fox Bid to $71.3 Billion, Outflanking Comcast

    Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery. The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain. Chetty, an Australian national, […]

  • Gloria Calderon Kellett and Tanya SarachoTune

    'One Day at a Time,' 'Vida' Teams Challenge Other Series to Donate to End Border Separation

    Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery. The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain. Chetty, an Australian national, […]

  • Sydney Holland

    Sumner Redstone's Ex-Fiancee Settles Lurid Elder Abuse Lawsuit

    Film financier Devesh Chetty was Friday ordered to serve 22 weeks in jail in Singapore following three charges of forgery. The crimes occurred in relation to two investments made by the Singapore government’s Media Development Authority and in connection with an attempted takeover bid for Golden Village, Singapore’s largest cinema chain. Chetty, an Australian national, […]

More From Our Brands

Access exclusive content