SINGAPORE (Apr 2): Midas Holdings is in a really bad situation. Over the last few weeks, the company has found itself on the hook for RMB452.2 million ($94.1 million) in previously unknown debts and loan guarantees, some for loans taken by a nephew of the company’s chairman, Chen Wei Ping. The company’s CEO Patrick Chew is said to be one of the guarantors of these undisclosed debts. But he says he knows nothing about it, and has resigned.

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