The Singapore-incorporated Singliworld was said to have been headed by two Malaysians, Leong Koon Wah, 49, and Ng Kuan Chuan, 35. They are on trial for running the "fraudulent scheme" from March 2014 to May 2015.
Leong, a Singapore permanent resident, was the managing director of Singliworld from its incorporation in December 2012 and was also a registered director of Triumph Global from 9 December 2014 to 17 July 2015. The duo were jointly responsible for running Singliforex, with Leong in charge of marketing operations and soliciting investors while Ng was responsible for managing the staff of Triumph Global and for operating the software used for trading, according to court documents.In early 2014, Singliworld started soliciting investors for its Singliforex scheme.