Eagle Hospitality Trust… scam REIT?

2021-06-30

Singapore

TWO investors of the beleaguered Eagle Hospitality Trust (EHT) are suing six of its manager's former and current directors for failing to make material disclosures from the time the stapled securities were offered to when the trust collapsed in or around March 2020.

Ajeet Gobindram Vaswani, a retiree, is claiming US$1.55 million for the 2,632,000 stapled securities he holds in EHT; Viresh Ajeet Vaswani, an entrepreneur, is claiming US$305,000 for his 448,000 units.

The father-son pair, who believe they are the second and third-largest investors in the trust, filed their statement of claim before Singapore's High Court on April 26.

IF YOU HAVE DOUBTS OVER THE INTEGRITY OF THE REIT MANAGER, DO NOT BUY THEIR REIT AT ANY PRICE.

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