Son of ex-Singapore PM Goh Chok Tong and three others charged with market manipulation

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SINGAPORE (The Straits Times/Asia News Network): The former chief executive of Singapore-listed New Silkroutes Group Goh Jin Hian and three other men were slapped with a total of 132 charges related to false trading offences in the State Courts on Wednesday (Sept 20).

The other three men charged are the healthcare and energy firm’s former chief corporate officer Kelvyn Oo Cheong Kwan and former finance director William Teo Thiam Chuan, as well as Huang Yiwen, the sole director of GTC Group, a commercial market maker that New Silkroutes had engaged.Goh, 54, the son of former prime minister Goh Chok Tong, was chief executive of New Silkroutes from 2015 to 2020. In 2020, he also stepped down as non-independent and non-executive chairman of the group.

The alleged orders and trades include share buybacks carried out through the company’s corporate trading account, the police said. New Silkroutes had said in October 2020 that Goh resigned from his post of non-independent and non-executive chairman to “devote more time to his personal affairs”. The charges followed a joint investigation between the Commercial Affairs Department and the Monetary Authority of Singapore.

 

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