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Bellagraph Nova Group mystery deepens after further scrutiny

Bloomberg
Bloomberg8/27/2020 07:35 AM GMT+08  • 3 min read
Bellagraph Nova Group mystery deepens after further scrutiny
Axington Inc., a tax-services firm listed in Singapore that’s controlled by two of BN Group’s founders, halted trading after a 14% plunge Tuesday.
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The news came as a surprise: This month a Singapore-registered company bid to buy Newcastle United Football Club in the U.K.

The company in question, Bellagraph Nova (BN) Group, has since come under increased scrutiny.

First, it admitted to photoshopping marketing photos with former U.S. President Barack Obama. And now, Axington Inc., a tax-services firm listed in Singapore that’s controlled by two of BN Group’s founders, halted trading after a 14% plunge Tuesday on a report that the regulatory arm of the city-state’s bourse recommended an investigation into the suitability of its board of directors. The third BN Group founder, Evangeline Shen, serves as a non-independent, non-executive chairman at Axington.

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