The son of Singapore’s former Prime Minister has been slapped with false trading offenses, alongside three other men.
Goh Jin Hian has been accused of conspiring with three other men to create a misleading appearance of the securities price of Singapore-listed healthcare and energy firm New Silkroutes, according to a «CNA» report citing court proceedings. He has been handed 39 charges under the Securities and Futures Act.
The alleged moves to manipulate prices include share buybacks conducted through New Silkroutes' corporate account as well as trades made using Goh's DBS Private Bank account. The three other men – Kelvyn Oo Cheong Kwan, William Teo Thiam Chuan and Huang Yiwen – each received 31 similar charges.
Former Prime Minister’s Son
Goh was the former CEO of New Silkroutes Group and took over as chairman in October 2020 before announcing his resignation shortly after in the same month to «devote more time to his personal affairs». He is also the son of ex-Singapore Prime Minister Goh Chok Tong.
Goh, Teo and Oo will return to court next month. If convicted, they will face up to seven years in jail.
