Why was he issued an Interpol red notice?
SPF said on Wednesday that Mr Zilliacus is wanted over his alleged involvement in the release of misleading statements in YuuZoo’s financial reports.
Similar warrants of arrest were issued against the company’s chief financial officer Michael Parker and two independent directors Anthony Williams and Ozi Amanat.
The police said that the four men are currently not in Singapore and “have refused to return”.
YuuZoo released several financial reports between 2015 and 2016 that were allegedly misleading, said the police.
The statements allegedly overstated YuuZoo’s revenue by US$4.6 million to US$18.8 million.
What happened to YuuZoo?
In April 2018, YuuZoo had its office raided by Singapore’s Commercial Affairs Department (CAD) for possible breaches under the Securities and Futures Act, reported several media outlets. Documents for the financial years 2013 to 2016 were seized.
Mr Zilliacus resigned in the same month amid the investigations.
In a filing to SGX in April 2018, YuuZoo said that CAD’s investigation was “caused by a complaint from an unknown party”.
“While (Mr Zilliacus) is convinced nobody in the company has done anything wrong, he believes the honourable thing to do is to step aside while the investigation is ongoing.”
The company was also put under mandatory trading suspension from SGX since Mar 19, 2018, with its Shareholders Association submitting several requests to lift the suspension over the years.
In 2019, Mr Zilliacus called for the company to pay unpaid salaries to staff who were laid off regionally, reported The Business Times.
Its Shareholders Association had said that the trading suspension of YuuZoo’s shares meant that the company could not continue funding its subsidiaries, resulting in many retrenched workers in several countries not getting their salaries.
On Wednesday, another former YuuZooCEO, James Matthew Somasundram, was handed four charges under the Securities and Futures Act in connection with the breaches by the firm.
He was alleged have been negligent in connection with the financial reports of YuuZoo, which is now known as YuuZoo Networks Group, for the final quarter of 2015 and the first three quarters of 2016.