On 8 May 2023, the former divisional president of Mainboard-listed Trek 2000 International Limited (“Trek 2000”), Foo Kok Wah (“Foo”), was sentenced to two months’ imprisonment. This relates to his conviction on 30 January 2023 for the following offences:
- One charge under Section 417 read with Section 116 of the Penal Code (“PC”) for engaging in a conspiracy with three former executive directors of Trek 2000, Henn Tan (“Tan”), Gurcharan Singh (“Singh”) and Poo Teng Pin (“Poo”) to cheat Trek 2000’s auditors Ernst & Young LLP (“EY”); and
- One charge under Section 477A read with Section 109 of the PC for instigating another employee to falsify documents.
Another accounts falsification charge was taken into consideration for the purpose of sentencing.
Foo’s conviction and sentencing follow those of Tan, Singh and Poo, who were convicted for, inter alia, cheating, accounts falsification and forgery, and sentenced to imprisonment of between 9 months and 16 months.
Investigations by the Commercial Affairs Department revealed that between November and December 2015, Tan, Singh and Poo engaged in a conspiracy to falsify Trek 2000’s financial statements for the financial year (“FY”) that ended in 31 December 2015, by recording a fictitious sale to Unimicron Technology Corp (“Unimicron”) worth US$3.2 million.
In February 2016, EY queried the fictitious sale to Unimicron and requested for supporting documents. Tan, Singh and Poo realised that it would be difficult to maintain to EY that Unimicron was the counterparty to the sale, as they were unable to produce the supporting documents. A decision was thus made to inform EY that Colite Technology Inc (“Colite”), not Unimicron, was the counterparty to the fictitious sale.
Foo was roped in and tasked to assist in addressing EY’s queries on the fictitious sale. Foo then conspired with Tan, Singh and Poo to deceive EY into believing that the sale was genuine, and that Trek 2000’s FY2015 financial statements had been drawn up properly. In furtherance of the conspiracy, Foo, together with the trio, prepared a document setting out a false chronology of events relating to the fictitious sale and furnished it to EY.
To lend credence to the false chronology of events, Foo further instigated an employee to create a false tax invoice and delivery order reflecting that a sale was made to Colite.
Foo’s conviction and sentencing marks the conclusion of the four prosecutions highlighted in our news release of 25 September 2019.
SINGAPORE POLICE FORCE
08 May 2023 @ 11:00 AM