Founder jailed 44 months for fake supplier invoices used to fund an IPO subscription
Jason Parquet Specialist (Singapore) Pte Ltd (Jason Parquet Holdings) · Timber flooring supplier, SGX-listed parent
The case in brief
Visible before detection
Checks that could have surfaced it, on hindsight
Counterparty existence
Tati Trading had no real timber supply relationship with the company.
Can mislead when: Real companies can be used as pass-throughs. Existence does not prove a real trade, so C6 and C7 still apply.
End-use tracing of funds
Loan proceeds paid to the supplier funded the supplier director's IPO share purchase.
Can mislead when: Kubr sees only the company's own accounts. Once money reaches a third party's bank, Kubr can flag the payee but cannot see the next hop without that party's consent.
Ownership / related-party links
The supplier's director was also an IPO subscriber in the customer.
Can mislead when: Nominee directors and offshore layers hide links. Name matching throws up false positives, so every flag shows its evidence path.
Document authenticity / direct pull
Delivery orders could not be matched to real goods movements.
Can mislead when: The company can refuse consent, and a refusal is itself a flag. Some banks and co-op banks are not on AA yet.
Where Kubr services would have helped
Financial diligence
Offered in India- C3 The supplier's director was also an IPO subscriber in the customer.
- C4 Tati Trading had no real timber supply relationship with the company.
- C5 Delivery orders could not be matched to real goods movements.
Proceeds tracer
Offered in India- C3 The supplier's director was also an IPO subscriber in the customer.
- C4 Tati Trading had no real timber supply relationship with the company.
- C6 Loan proceeds paid to the supplier funded the supplier director's IPO share purchase.
Verified Snapshot
Offered in India- C3 The supplier's director was also an IPO subscriber in the customer.
- C4 Tati Trading had no real timber supply relationship with the company.
Borrower monitor
Offered in India- C3 The supplier's director was also an IPO subscriber in the customer.
- C6 Loan proceeds paid to the supplier funded the supplier director's IPO share purchase.
Mapped from the checks each service runs. A hindsight reading of public records, not a promise that the failure would have been found.
Same pattern
A summary of public documents. It reports what the sources say. It is not Kubr's finding and not a statement of guilt.