Ewe Pang Kooi's $16.5m Scam found

An accountant hired by five companies linked to global computer giant Hewlett-Packard is alleged to have misappropriated $16.5 million of their funds.

The firms - which had engaged Mr Ewe Pang Kooi to take them through a liquidation process - successfully applied to the High Court for an injunction last month to freeze his assets up to that figure.

An employee of HP here also lodged a report with the Commercial Affairs Department in late July and investigations are believed to be ongoing.

A police spokesman said yesterday it was inappropriate to comment. It is understood that no criminal charges have been filed against the 59-year-old Mr Ewe.