His parents will disown him legally.lol
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Breaking: High Court rules former prime minister’s son Goh Jin Hian liable for losses of up to US$146million
- Thread starter Hightech88
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As mentioned before, its likely ESM Goh is using his influence to try all means to whitewash or suppress coverage of the news to prevent it from appearing in the main media. Reason is simple, it is a very xia suay news for his family, worsen by the fact previously he has talked about the importance of ownself check ownself, which apparently failed, LOL.
Even this time round, it only appears in the Business section of ST and then finally in CNA. Strangely, none was reported in other English media outlets like TNP, Today or even Mothership.
吴仁轩因失责须赔偿近2亿元 法官：他对业务一无所知
高庭裁定，吴仁轩医生在担任船用燃料供应商Inter-Pacific Petroleum（IPP）的董事期间失责，须赔偿这家公司1亿4605万美元（约1亿9658万新元），外加利息。
艾迪阿都拉法官宣判时指出，吴仁轩身为IPP的董事却对公司的主要业务货运贸易一无所知，他也无视“危险信号”和没有进一步追问与调查，导致公司蒙受损失。
至于吴仁轩辩称他一直诚实与合理地执行董事职务，因此无须负起赔偿责任，法官说，法庭无法得出吴仁轩“合理行事”的结论。
吴仁轩在2020年被IPP的司法管理人德勤（Deloitte）起诉，指他在担任IPP董事期间违反职责，并向他追索1亿5600万美元的损失，外加利息。此案早前在高庭审理，法官于1月24日裁定德勤胜诉，过后审理吴仁轩须支付的讼费金额。
吴仁轩是荣誉国务资政吴作栋的儿子。他在2011年6月28日至2019年8月12日担任IPP的董事，诉方索讨的1亿5600万美元是公司于2019年6月和7月的贸易融资款项。IPP于2019年9月被司法管理。
根据诉方，若吴仁轩谨慎并尽责地执行董事职务，就会发现自2017年最后一个季度开始，已有客户拖欠IPP大量逾期的应收账款；诉方说，由于吴仁轩的疏忽，没有阻止IPP向两家银行申请贷款，影响了债权人的权益。德勤要求客户付款时，也发现许多销售合约是虚假或不存在的。
吴仁轩则辩称，他在2015年6月转任IPP的非执行董事，因此没有参与IPP的日常管理与营运。为了履行有关职责，他必须依靠IPP的管理层；他说，未有任何理由或任何引起他注意的事情，使得他不信任IPP的管理层。
法官也说，尽管货运贸易是IPP的主要业务，但他发现吴仁轩对这个业务一无所知。此外，尽管公司运作已亮起各种“危险信号”，包括公司被拖欠大笔债务，但吴仁轩没有进一步调查以了解情况。
法官认为，若吴仁轩确实尽责，他会发现IPP所涉及的虚假交易，并且不会让公司进行某些交易与借款，以致公司蒙受损失。因此法官裁定，吴仁轩必须为IPP在2019年6月至7月的损失负责，赔偿金额为1亿4605万美元外加利息。
诉方原本向吴仁轩索讨另一笔1050万美元的损失，但法官认为，没有充分证据显示这笔损失与吴仁轩的失责行为有关。
去年9月，也是新丝路集团前主席的吴仁轩和另外三人因涉嫌在2018年操控集团股价，触犯证券及期货法令被控上法庭。这起案件仍在审理。
吴仁轩则辩称，他在2015年6月转任IPP的非执行董事，因此没有参与IPP的日常管理与营运。为了履行有关职责，他必须依靠IPP的管理层；他说，未有任何理由或任何引起他注意的事情，使得他不信任IPP的管理层。
法官：公司董事并非闲职 仍有责任监管公司运作
不过，法官指出，公司董事并非一份闲职或仅是名义上的头衔，即使无须参与公司的日常运作，董事仍有责任监管公司运作，以维护公司、股东与债权人的利益。何况，在吴仁轩转任非执行董事后，他仍积极管理公司对外与对内的业务，因此他有责任以谨慎的态度来履行职务。法官也说，尽管货运贸易是IPP的主要业务，但他发现吴仁轩对这个业务一无所知。此外，尽管公司运作已亮起各种“危险信号”，包括公司被拖欠大笔债务，但吴仁轩没有进一步调查以了解情况。
法官认为，若吴仁轩确实尽责，他会发现IPP所涉及的虚假交易，并且不会让公司进行某些交易与借款，以致公司蒙受损失。因此法官裁定，吴仁轩必须为IPP在2019年6月至7月的损失负责，赔偿金额为1亿4605万美元外加利息。
诉方原本向吴仁轩索讨另一笔1050万美元的损失，但法官认为，没有充分证据显示这笔损失与吴仁轩的失责行为有关。
去年9月，也是新丝路集团前主席的吴仁轩和另外三人因涉嫌在2018年操控集团股价，触犯证券及期货法令被控上法庭。这起案件仍在审理。
U know who my support mountain ?
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Why not?Still dare to take 50+ director ships?
Non executive role
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No news on this guy?
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开学特刊 | 新丝路集团CEO吴仁轩：如何通过“一带一路”助力企业、国家、社会发展
清华五道口金融EMBA2018-09-16 21:06
新丝路集团CEO吴仁轩则作为活跃在新加坡企业家群体及各界的知名人士，以东南亚金融中心新加坡的视角分享了他对“一带一路”倡议下中国与东南亚企业布局的思考。新丝路集团在新加坡证券交易所(SGX)主板上市，控股多家医疗、能源、房地产企业。
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吴仁轩一带一路 启航仪式
我作为一名医学博士，花了将近15年时间领导亚洲一家大型公共医疗保健机构——新加坡百汇医疗集团。此公司总部设在新加坡，在亚洲地区有近15家分公司。但在2014年我离开了这个机构，并加入以电脑销售为主，同时涉及石油贸易的Digiland国际，成为CEO。我加入公司后做的第一件事就是为这个公司更名为新丝路。因为那时候大家都在讨论“一带一路”倡议，我们希望公司名字与“一带一路”贴近，同时更进一步，承担连接创意、文化、科技、人才及贸易的责任。这也与“一带一路”的五通理念相一致。我们需要与政府合作，制定新政策来减少中新两国之间的壁垒，鼓励贸易和交流，以此实现金融一体化，实现创意和人才交流。
我作为一名医学博士，花了将近15年时间领导亚洲一家大型公共医疗保健机构——新加坡百汇医疗集团。此公司总部设在新加坡，在亚洲地区有近15家分公司。但在2014年我离开了这个机构，并加入以电脑销售为主，同时涉及石油贸易的Digiland国际，成为CEO。我加入公司后做的第一件事就是为这个公司更名为新丝路。因为那时候大家都在讨论“一带一路”倡议，我们希望公司名字与“一带一路”贴近，同时更进一步，承担连接创意、文化、科技、人才及贸易的责任。这也与“一带一路”的五通理念相一致。我们需要与政府合作，制定新政策来减少中新两国之间的壁垒，鼓励贸易和交流，以此实现金融一体化，实现创意和人才交流。
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Just eat lao pei money until pass away. Declare bankrupt.
This one machiam Chinese as a 2nd Language.
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Mommy not concerned, to her USD $146mil is just a few Peanuts.
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Will the reporter Grace Leong, tio fixed by GCT for mentioning his honorable holy name? 
https://www.asiaone.com/singapore/n...cution-alleges-goh-jin-hian-was-mastermind-ex
According to sentencing documents, William Teo Thiam Chuan (left) played a “critical” role in the market-rigging scheme, which the prosecution alleged was masterminded by Goh Jin Hian.
PHOTO: The Straits Times, The Business Times file
PUBLISHED ONSeptember 19, 2024 9:23 AMBy Grace Leong
SINGAPORE — A former finance director of Singapore-listed New Silkroutes Group was sentenced to 12 weeks in prison on Sept 16 after pleading guilty to manipulating its share prices to allow its shares to be used as consideration for corporate deals.
According to sentencing documents, William Teo Thiam Chuan, 55, played a "critical" role in the market-rigging scheme, which the prosecution alleged was masterminded by Goh Jin Hian, former chief executive of the investment holding firm.
On Sept 16, Teo pleaded guilty to six charges under the Securities and Futures Act for abetment by conspiracy over false trading and market-rigging transactions. Another 25 charges were taken into consideration.
Goh, 55, the son of former prime minister Goh Chok Tong, Teo, Kelvyn Oo Cheong Kwan, the group's former chief corporate officer, and Huang Yiwen, the sole director of GTC Group, a commercial market maker that New Silkroutes had engaged, were handed in September 2023 a total of 132 charges related to false trading offences. The pre-trial conference for Goh, Huang and Oo is scheduled for Sept 26.
According to the prosecution, the four men carried out a "sophisticated, well-coordinated and effective" scheme between Feb 26, 2018, and Aug 27, 2018, to artificially push up the share price of New Silkroutes, "effectively (allowing the company) to use its shares as currency for corporate deals and acquisitions".
The scheme was devised as "a quick and convenient way" to facilitate the company's expansion by acquiring other companies and to raise capital through the issuance of new shares, the prosecution added.
New Silkroutes was initially in the businesses of oil trading, and electronic and IT product distribution. In December 2016, it decided to move into healthcare and acquired several clinics and medical supply firms the following year. These acquisitions were paid for through the issuance of company shares.
But its efforts to acquire companies and raise capital through private placements were hindered by its weakening share price in 2017.
From January 2017 to May 2017, its shares traded between 70 cents and 90 cents, before dropping to between 40 cents and 50 cents in June 2017. By November 2017, they had hit a low of 28.5 cents.
On Nov 29, 2017, New Silkroutes applied to halt the trading of its shares. Trading was suspended on Dec 4, 2017, and the suspension was lifted only after the market closed on Feb 25, 2018.
While its stock trading was suspended, the firm agreed to several corporate transactions involving the potential issuance of new company shares as consideration.
On Feb 21, 2018, it announced a proposed placement of 11.4 million new shares at a price of 44 cents per share to an external investor, Dr Andrew Chua Soon Kian, to raise $5 million. This placement was completed in March 2018.
That same month, New Silkroutes announced a memorandum of understanding (MOU) with a Mr Shen Yuyun to acquire two medical supply companies in Shanghai. The company planned to issue new shares at 50 cents a piece to complete the acquisition for $65 million.
It also announced an MOU with Haitong International Securities, where Haitong would subscribe to a convertible bond of $5 million issued by New Silkroutes, with a maturity date of two years from the date of issue. The convertible bond would pay interest of 5 per cent per annum.
One reason for propping up the stock price was to bolster investor confidence to complete the corporate transactions and to allow for future share placements based on an attractive share price, the prosecution said.
"There were concerns that Haitong might not exercise its option if the share price continued on its downward trend, or that Shen Yuyun might ask for a greater premium if the share price fell below a certain level," the prosecution added.
According to court papers, Goh asked Teo on Feb 4, 2018, to find a market maker to support the share price, and GTC was hired between Feb 21, 2018, and Feb 26, 2018, to artificially push up the price from 28.5 cents to a target price of 50 cents. The use of GTC also created an additional layer - by adding a separate market player - which would make it harder to detect the scheme, the prosecution said.
Legitimate market making does not include price manipulation to push up the share price and set the closing price.
To push up the share price, the four men used different trading accounts to buy its shares to mark the close, or to push up and set the day's closing price. They also bought at price levels several bids higher than the last traded price, the prosecution said.
Teo abused his position by using the company's share buyback accounts, which he had been authorised to control, to place orders and execute trades to push up its share price.
"While not the mastermind (which was Goh), Teo played an important role in the scheme," the prosecution said, pointing out that Teo was the main liaison between New Silkroutes and Huang.
"It was Teo who coordinated with Huang, reminding him of the price targets GTC had to hit, and giving instructions on the purchase of New Silkroutes securities."
The scale of the market rigging was significant, with "great distortion" caused to the market for New Silkroutes' securities. On the 31 days, which form the subject matter of Teo's proceeded charges, the alleged trades and orders executed by Teo, Huang and Goh accounted for 28.78 per cent of the total market volume, taking buy trades only.
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https://www.asiaone.com/singapore/n...cution-alleges-goh-jin-hian-was-mastermind-ex
New Silkroutes market-rigging scheme: Prosecution alleges Goh Jin Hian was mastermind, ex-director jailed
According to sentencing documents, William Teo Thiam Chuan (left) played a “critical” role in the market-rigging scheme, which the prosecution alleged was masterminded by Goh Jin Hian.
PHOTO: The Straits Times, The Business Times file
PUBLISHED ONSeptember 19, 2024 9:23 AMBy Grace Leong
SINGAPORE — A former finance director of Singapore-listed New Silkroutes Group was sentenced to 12 weeks in prison on Sept 16 after pleading guilty to manipulating its share prices to allow its shares to be used as consideration for corporate deals.
According to sentencing documents, William Teo Thiam Chuan, 55, played a "critical" role in the market-rigging scheme, which the prosecution alleged was masterminded by Goh Jin Hian, former chief executive of the investment holding firm.
On Sept 16, Teo pleaded guilty to six charges under the Securities and Futures Act for abetment by conspiracy over false trading and market-rigging transactions. Another 25 charges were taken into consideration.
Goh, 55, the son of former prime minister Goh Chok Tong, Teo, Kelvyn Oo Cheong Kwan, the group's former chief corporate officer, and Huang Yiwen, the sole director of GTC Group, a commercial market maker that New Silkroutes had engaged, were handed in September 2023 a total of 132 charges related to false trading offences. The pre-trial conference for Goh, Huang and Oo is scheduled for Sept 26.
According to the prosecution, the four men carried out a "sophisticated, well-coordinated and effective" scheme between Feb 26, 2018, and Aug 27, 2018, to artificially push up the share price of New Silkroutes, "effectively (allowing the company) to use its shares as currency for corporate deals and acquisitions".
The scheme was devised as "a quick and convenient way" to facilitate the company's expansion by acquiring other companies and to raise capital through the issuance of new shares, the prosecution added.
New Silkroutes was initially in the businesses of oil trading, and electronic and IT product distribution. In December 2016, it decided to move into healthcare and acquired several clinics and medical supply firms the following year. These acquisitions were paid for through the issuance of company shares.
But its efforts to acquire companies and raise capital through private placements were hindered by its weakening share price in 2017.
From January 2017 to May 2017, its shares traded between 70 cents and 90 cents, before dropping to between 40 cents and 50 cents in June 2017. By November 2017, they had hit a low of 28.5 cents.
On Nov 29, 2017, New Silkroutes applied to halt the trading of its shares. Trading was suspended on Dec 4, 2017, and the suspension was lifted only after the market closed on Feb 25, 2018.
While its stock trading was suspended, the firm agreed to several corporate transactions involving the potential issuance of new company shares as consideration.
On Feb 21, 2018, it announced a proposed placement of 11.4 million new shares at a price of 44 cents per share to an external investor, Dr Andrew Chua Soon Kian, to raise $5 million. This placement was completed in March 2018.
That same month, New Silkroutes announced a memorandum of understanding (MOU) with a Mr Shen Yuyun to acquire two medical supply companies in Shanghai. The company planned to issue new shares at 50 cents a piece to complete the acquisition for $65 million.
It also announced an MOU with Haitong International Securities, where Haitong would subscribe to a convertible bond of $5 million issued by New Silkroutes, with a maturity date of two years from the date of issue. The convertible bond would pay interest of 5 per cent per annum.
One reason for propping up the stock price was to bolster investor confidence to complete the corporate transactions and to allow for future share placements based on an attractive share price, the prosecution said.
"There were concerns that Haitong might not exercise its option if the share price continued on its downward trend, or that Shen Yuyun might ask for a greater premium if the share price fell below a certain level," the prosecution added.
According to court papers, Goh asked Teo on Feb 4, 2018, to find a market maker to support the share price, and GTC was hired between Feb 21, 2018, and Feb 26, 2018, to artificially push up the price from 28.5 cents to a target price of 50 cents. The use of GTC also created an additional layer - by adding a separate market player - which would make it harder to detect the scheme, the prosecution said.
Legitimate market making does not include price manipulation to push up the share price and set the closing price.
To push up the share price, the four men used different trading accounts to buy its shares to mark the close, or to push up and set the day's closing price. They also bought at price levels several bids higher than the last traded price, the prosecution said.
Teo abused his position by using the company's share buyback accounts, which he had been authorised to control, to place orders and execute trades to push up its share price.
"While not the mastermind (which was Goh), Teo played an important role in the scheme," the prosecution said, pointing out that Teo was the main liaison between New Silkroutes and Huang.
"It was Teo who coordinated with Huang, reminding him of the price targets GTC had to hit, and giving instructions on the purchase of New Silkroutes securities."
The scale of the market rigging was significant, with "great distortion" caused to the market for New Silkroutes' securities. On the 31 days, which form the subject matter of Teo's proceeded charges, the alleged trades and orders executed by Teo, Huang and Goh accounted for 28.78 per cent of the total market volume, taking buy trades only.
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