SINGAPORE - An insurance association which was sued for offering an MBA course which later turned out to be unaccredited has decided not to fight the case.
Instead, the Insurance and Financial Practitioners Association of Singapore (Ifpas) has accepted the district court's ruling issued last week that it pay financial adviser Davy Goh Peng Yang $17,500.
The sum includes $13,500 in fees he had paid in 2004 for the Master of Business Administration course run by Vancouver University, which he later found out was not formally recognised as a university, as well as legal costs.
Mr Goh, 36, had alleged in his suit that Ifpas had failed to conduct proper checks before asking members to sign up for the MBA course it marketed.
"Being a professional association, I thought Ifpas would have done proper checks before asking its members to sign up for the course," he said.
He had asked for his fees to be refunded but Ifpas refused, claiming it was responsible only for marketing the course. It said the programme was run jointly by the Canadian school and CPPD Systems Associates, a firm headed by retired Nanyang Technological University professor B. C. Ghosh.
Mr Goh, who completed the course in 2005, decided to sue in 2011 - the same year The Straits Times published an expose on how about 100 agents from large insurance houses such as Great Eastern had unaccredited MBAs from Vancouver University.
The school reportedly operated for more than a decade despite not having accreditation from the Canadian government.
In 2007, it was served a shut-down order by the Supreme Court of British Columbia.