Goh Jin Hian, a former CEO of the investment holding firm New Silkroutes Group, was charged with false trading offenses on Wednesday( Sept 20 ) and nbsp.
39 charges under the Securities and Futures Act were brought against the 54-year-old man, & nbsp, who is the son of former Prime Minister Goh Chok Tong.
Oo Cheong Kwan Kelvyn, 52, a former executive chairman and chief business officer at New Silkroutes, Teo Thiam Chuan William, 54, the group’s former finance director, and Huang Yiwen, 40, were also charged in addition to him.
In general, Goh is charged with working with the other three men to deceive the public about the value of New Silkroutes’ assets.
By placing orders and carrying out deals using his DBS Private Bank expense account, he is also accused of driving up the price of New Silkroutes’ stocks.
Each of the other three gentlemen was charged 31 times as much.
Goh was represented by Davinder Singh Chambers’ Mr. Navin Thevar. Teo was represented by Rajah & amp, Tann’s Mr. Thong Chee Kun, and Ms. Ng Pei Qi, while Senior Counsel N Sreenivasan and Mr S. Balamurugan from K & AMP, L Gates Straits Law, represented Oo.
Diana Ngiam and Joyce Khoo from Quahe Woo & amp, Palmer, defended Huang.
Goh assumed the position of president of the company in October 2020 after serving as CEO since June 2015.
Goh announced in October 2020 that he would step down as group chairman” to devote more time to his personal affairs” on the Singapore Exchange ( SGX ).
Teo, one of his co-accusations, also resigned from his position as finance director at the same time, stating that he did so in order to” focus on personal things and to pursue other passions.”