CEO of luxury car distributor Eurosports Global fined for false share trading
Goh Kim San's lawyers said the CEO acted out of "vanity, not deception" as he disliked the sight of the flat lining of an inactive share counter.
Singaporean businessman Goh Kim San, also known as Melvin Goh, has been fined S$210,000 (US$166,110) for three counts of false share trading by a court on September 9. The CEO of luxury car distributor Eurosports Global instructed others to conduct trades in the company's shares over a period of three years. Goh pleaded guilty to the charges under the Securities and Futures Act and would have faced up to seven years in jail if he had failed to pay the fine.
He was motivated by vanity and a dislike of the flat-lined appearance of inactive share counters, rather than deception.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
