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”. Their resignations came after the company disclosed that Goh and Teo were helping the police’s Commercial Affairs Department with investigations.
Separately, a High Court trial began in April between the liquidators of insolvent marine fuel supplier Inter-Pacific Petroleum and Goh, its former director, over US$156 million in losses resulting from his alleged breach of director’s duties.
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