The CEO of mainboard-listed company Vibrant Group, Khua Kian Keong, has been sentenced to 13 months in jail for assaulting an elderly man, former chairman of KTL Global Tan Tock Han, following a dispute over money-related matters. The incident occurred at the office of KTL Offshore in Gul Road near Pioneer Road on Jan 13, 2021. District Judge Ronald Gwee convicted Khua, 55, of voluntarily causing grievous hurt to Mr. Tan, who suffered facial fractures as a result of the assault.
Deputy Public Prosecutor Yvonne Poon revealed that the families of Khua and Mr. Tan had a longstanding relationship spanning over 50 years before the attack. Khua and Mr. Tan’s son, Wilson Tan Kheng Yeow, had been friends since their mid-teens and were involved in various organizations together. Despite Khua extending loans totaling over $2.4 million to Mr. Tan’s son out of friendship, repayment was not made, leading to the confrontation.
Khua’s financial difficulties in his company and repeated attempts to recover the money from the Tan family added to the tension. The dispute culminated in Khua pushing Mr. Tan down a flight of stairs at KTL Offshore’s office when the elderly man did not comply with his demand for payment. Despite Khua’s claim that Mr. Tan fell, employees witnessed the assault and found Mr. Tan injured at the bottom of the stairs.
In the courtroom, Khua’s lawyers argued for a lenient sentence, citing a settlement agreement reached in November 2022 where Mr. Tan agreed to absolve Khua of all claims related to the incident. The lawyers also highlighted Khua’s willingness to resolve the matter and discontinue all civil disputes between the parties involved. Khua, currently out on bail, is set to begin serving his sentence on Aug 7 as ordered by the court.
The case underscores the importance of resolving financial disputes amicably and highlights the consequences of letting emotions escalate in such situations. It serves as a cautionary tale for individuals involved in financial transactions, emphasizing the need for clear documentation and communication to avoid misunderstandings and conflicts that could lead to serious consequences like assault charges. Respecting the law and seeking legal recourse in financial disagreements can help prevent such regrettable incidents from occurring in the future.