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 governmentâ€™s Media Development Authority (MDA) and in connection with an attempted takeover bid for Golden Village, Singaporeâ€™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 â€“ 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.
Image Credit: Patrick Frater