🎁Comment on Son of Singapore’s Former Prime Minister Being Charged
Former CEO of New Silkroutes Group Goh Jin Hian among 4 men charged with false trading.
Recent News from time.com, Goh Jin Hian, the son of former Singapore Prime Minister Goh Chok Tong, was among four people charged Wednesday with false trading offenses, Channel News Asia reported.
The 54-year-old ex-chief executive officer of investment holding company New Silkroutes Group Ltd., Goh stands accused of conspiring with three other men linked to the firm for creating a misleading appearance of the price of its securities on 31 trading days between February and August of 2018, according to the report.
Goh is also accused of pushing up the price of the company’s securities by placing orders and executing trades using his bank investment account.
He was handed 39 charges under the Securities and Futures Act, while the three other men each received 31 similar charges.
Navin Thevar, the lawyer representing Goh, didn’t immediately respond to a phone call and email seeking comment.
Goh and the three others charged could face a jail term of up to seven years and a fine of as much as S$250,000 ($183,000), or both, on each charge.
It is also unwelcome news for Singapore’s ruling party, which has been rocked by a string of rare political scandals in the past few months.
Based on the report on September 18th, Singapore police last month arrested 10 foreign nationals – aged between 31 and 44 – and raided residences, seizing luxury items including Hermes handbags, Patek Philippe watches, aged Macallan whisky, and Bentley and Rolls-Royce cars. So far the seizure of assets worth 1.8 billion Singaporean dollars ($1.3bn).
singapore
A separate billion-dollar money laundering probe is already shining a light on fund flows from abroad and raising questions about loopholes that enabled an alleged criminal syndicate to accumulate massive amounts of wealth. The city-state’s anti-graft body is also conducting an investigation involving Transport Minister S. Iswaran.
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Source:
https://time.com/6315890/singapore-goh-jin-hian-false-trading-charged/
https://www.aljazeera.com/economy/2023/9/18/singapores-clean-image-under-scrutiny-amid-money-laundering-scandal
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As for the illegal or manipulating trading of Goh Jin Hian, it is unfortunate such incident happened. Either he is blinded with greed or he didnt follow the famous Nick Leeson. But he was 26 y o then. 🧐 Anyway, what done cant be undone.
🌟🌟🌟Singapore is a beacon of political stability, low corruption rates and a trusted partner for businesses. Ever since the People's Action Party (PAP) came into power in 1959, we are fortunate that we have a government that place emphasis on rule of law and meritocracy.
That's the reason why Singapore has grown from strength to strength and is a country that is dynamic and prosperous.
Nobody in Singapore is above the law, even those in power. Whether or not Goh Jin Juan is guilty or not, it is for the judge to decide.
As a Singaporean, I am really grateful and happy that I live in a country that is safe in every aspect - from crimes, financial stability and a wonderful place to raise a family. Singapore, my home, my country, I love you so. ❤️❤️❤️🇸🇬🇸🇬🇸🇬
@Tiger_SG