Assignment task: Delta has the corporate title of Director of Trading in Alfa Pte Ltd even though he has no position on the board of directors. He is the sole person in charge of the trading operations of Alfa Pte Ltd. Delta authorises false trades in order to boost the company's apparent profits. The motivation is to increase his bonus. Which of the following statements are true? Mark all that are true.
If the false trades cause the company's financial statements not to give a true and fair view of the company's financial position, Delta will be guilty of an offence under section 204(1).
If the false trades amount to cheating under Penal Code, Alfa Pte Ltd will be guilty of an offence if Delta's activities are known to the board of directors.
If Alfa Pte Ltd is convicted of the offence of cheating, Delta cannot be prosecuted for the same transactions.
All the directors of Alfa Pte Ltd are responsible for the actions of Delta and may be sued by any persons who have been cheated.
If Alfa Pte Ltd is convicted of cheating it may be wound up in lieu of a sentence of imprisonment if the Minister of Finance makes an application under the Insolvency, Reconstruction and Dissolution Act 2018.
NOTE: Context within Singapore Law, with regards to Singapore Company Law.