SINGAPORE: Goh Jin Hian, the former chief executive officer of investment holding company New Silkroutes Group, was charged on Wednesday (Sep 20) with false trading offences.
The 54-year-old man, who is the son of former Prime Minister Goh Chok Tong, was handed 39 charges under the Securities and Futures Act.
He was charged along with three other men linked to New Silkroutes: Oo Cheong Kwan Kelvyn, 52, former executive director and chief corporate officer at New Silkroutes, 54-year-old Teo Thiam Chuan William, a former finance director at the group, and 40-year-old Huang Yiwen.
Broadly, Goh is accused of conspiring with the other three men to create a misleading appearance of the price of New Silkroutes' securities.
He is also accused of pushing up the price of New Silkroutes' securities by placing orders and executing trades using his DBS Private Bank investment account.
The three other men received 31 similar charges each.
Goh was represented by Mr Navin Thevar from Davinder Singh Chambers. Oo was represented by Senior Counsel N Sreenivasan and Mr S Balamurugan from K&L Gates Straits Law, while Rajah & Tann's Mr Thong Chee Kun and Ms Ng Pei Qi represented Teo.
Huang was defended by Ms Diana Ngiam and Ms Joyce Khoo from Quahe Woo & Palmer.
Goh was CEO of the group from June 2015 but took over as chairman in October 2020.
In an announcement on the Singapore Exchange (SGX) in October 2020, Goh resigned from his role as chairman of the group "to devote more time to his personal affairs".
At the same time, his co-accused Teo also resigned as finance director, citing that it was to "focus on personal matters and to pursue other interests".
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The 54-year-old man, who is the son of former Prime Minister Goh Chok Tong, was handed 39 charges under the Securities and Futures Act.
He was charged along with three other men linked to New Silkroutes: Oo Cheong Kwan Kelvyn, 52, former executive director and chief corporate officer at New Silkroutes, 54-year-old Teo Thiam Chuan William, a former finance director at the group, and 40-year-old Huang Yiwen.
Broadly, Goh is accused of conspiring with the other three men to create a misleading appearance of the price of New Silkroutes' securities.
He is also accused of pushing up the price of New Silkroutes' securities by placing orders and executing trades using his DBS Private Bank investment account.
The three other men received 31 similar charges each.
Goh was represented by Mr Navin Thevar from Davinder Singh Chambers. Oo was represented by Senior Counsel N Sreenivasan and Mr S Balamurugan from K&L Gates Straits Law, while Rajah & Tann's Mr Thong Chee Kun and Ms Ng Pei Qi represented Teo.
Huang was defended by Ms Diana Ngiam and Ms Joyce Khoo from Quahe Woo & Palmer.
Goh was CEO of the group from June 2015 but took over as chairman in October 2020.
In an announcement on the Singapore Exchange (SGX) in October 2020, Goh resigned from his role as chairman of the group "to devote more time to his personal affairs".
At the same time, his co-accused Teo also resigned as finance director, citing that it was to "focus on personal matters and to pursue other interests".
Continue reading...