Connect with us

Court Cases

Goh Jin Hian, son of former Singapore PM Goh Chok Tong, faces charges of false trading

Former New Silkroutes Group CEO, Dr. Goh Jin Hian, and three ex-group members have been charged with false trading offenses on Wednesday (20 Sep).

The 54-year-old, son of former Prime Minister Goh Chok Tong, faces 39 charges under the Securities and Futures Act.

Published

on

SINGAPORE: Dr Goh Jin Hian, the former CEO of New Silkroutes Group, an investment holding company, was formally charged on Wednesday (20 Sep), with alleged false trading offences.

The 54-year-old, who is the son of former Prime Minister Goh Chok Tong, is facing a total of 39 charges under the Securities and Futures Act.

Accompanying Goh in the charges are three other individuals linked to New Silkroutes: Kelvyn Oo Cheong Kwan, aged 52, who formerly served as the executive director and chief corporate officer at New Silkroutes; William Teo Thiam Chuan, aged 54, who previously held the position of finance director at the group; and Huang Yiwen, aged 40, a commercial market maker engaged by New Silkroutes.

In a general sense, Goh stands accused of colluding with the aforementioned three individuals to manipulate the price of New Silkroutes’ securities on 31 trading days spanning from February 2018 to August 2018.

The alleged manipulative actions include share buybacks executed through New Silkroutes’ corporate trading account.

Additionally, Goh faces allegations of artificially inflating the price of New Silkroutes’ securities by placing orders and conducting trades through his DBS Private Bank investment account, purportedly taking place over eight trading days from August 2018 to December 2018.

Each of the three co-accused individuals received identical charges totalling 31.

Goh resigned from New Silkroutes Group in October 2020

Goh served as the CEO of New Silkroutes Group from June 2015 but assumed the role of chairman in October 2020.

In an announcement made on the Singapore Exchange (SGX) in October 2020, Goh resigned from his position as chairman of the group, citing the need to allocate more time to personal matters.

Simultaneously, his co-accused, Teo, also stepped down from his role as finance director, stating the intention to focus on personal affairs and explore other interests.

Joint probe by CAD and MAS unveils charges

Following the hearing, the police disclosed that these charges emerged from a collaborative investigation by the police’s Commercial Affairs Department (CAD) and the Monetary Authority of Singapore (MAS).

During the legal proceedings, Goh was represented by Mr Navin Thevar from Davinder Singh Chambers, while Oo received legal representation from Senior Counsel N. Sreenivasan and Mr. S. Balamurugan from K&L Gates Straits Law.

Teo was represented by Mr Thong Chee Kun and Ms Ng Pei Qi from Rajah & Tann. Huang was defended by Ms Diana Ngiam and Ms Joyce Khoo from Quahe Woo & Palmer.

Goh, Teo, and Oo are scheduled to return to court in the coming month.

Of the four individuals, Huang is the only one potentially facing additional charges, as indicated by the prosecution.

His next court mention is scheduled for November.

If found guilty, the accused individuals could face a prison sentence of up to seven years, a fine of up to S$250,000 (US$183,100), or both for each charge.

Share this post via:
Continue Reading
34 Comments
Subscribe
Notify of
34 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments

Remember what daddy said? ‘He’s not my brother’ when answering LTK?
Karma has everyone’s address and will visit you soon with a smile.

How come lao goh so silent as a church mouse? How come never support his son?

Ah lao always has two cents worth to mutter

Meroticrazy

Strange, never expected this guy to get into so much of shit.
Or is it A Witch-hunt????
Hmmmm

No matter who you are. Do something wrong got to face the music.

Prof Tommy son very handsome also?

This case was known for possibly many years , could it even have been 10 years already??? Left on the stand by???? Now ready to process? Why has Daddy long-legs been so uncovered by news for so long? As if he never exist.

SG. 86%

Will he spend some days in Changi?
Probably only given a stern warning.

comment image

Anyone noticed that the news doesn’t mentioned that this Goh JH as the son of Ah Goh? Must be an over-sight to details, hor. Again, pappies die-die also must not lose face.

Karma karma karma

Hnn… the tall order extremely senile man rebuked sinkies as quiters for working overseas.

Dau also quiter lah, married to ang mole.

Now son also run foul of law.

Those who live in glass houses don’t throw stones at others!

报应来了。有势有钱的时候,看衰人。
现在老爸肾病。
老妈蒙查查。
儿子贪污。就快被关。
全家快散快垮了。

Lots of dirty linens from super white miws and enunchs like Liew Munch Loin

Karma works in mysterious ways

Davinder didn’t give face to represent his son instead of his subordinate? Eh, cannot be leh?

Empty Vessels (made in PAP) make the most noises.

TALKED BLOODY Effking BIG – as though million dollars salaries gave them the qualifications and authority TO TALK DOWN citizens INCESSANTLY.

Old Lee’s Karma is playing OUT NOWso is Goh Chok Tong whose PROMISES ARE worst than HOT AIR, easy TO BLUFF Sheegaporeans for DONKEY of years to BUY cheap votes.

The PM who paid himself $3m by legislation and his $600,000/- peanuts wife joined the wealthy men’s club only to have the son face criminal charges decades later. Our journey in life is about correction of the soul. So perhaps the Goh’s family has to do with greed. Along life’s journey there will be many warnings to get back on the track of light but when it is ignored what are whom you loved the most will be used to correct you. So PAP MP’s and cronies, don’t celebrate theft paid as remuneration from taxpayers because when the axe falls… Read more »

Still remember what his mom said during NKF TT Durai saga? She said $500k salary is peanut, that was in 2005.

Remember what his dad said about Minister salaries? $500k is mediocre. Besides his many promises of Swiss standard if living and getting SG into World Cup.

Now we seeing karma in broad daylight showing who’s the master of universe

$600,000 is peanuts. :- )

Trending

Discover more from Gutzy Asia

Subscribe now to keep reading and get access to the full archive.

Continue Reading