Forensic auditors at Trek 2000 uncover evidence of round-tripping, sales of phantom products, lax stock-keeping and altered invoices

SINGAPORE (Apr 24): RSM Corporate Advisory, the forensic accountants at Trek 2000 International have uncovered evidence of suspicious transactions including round-tripping, sales involving phantom customers and phantom products, lax inventory book-keeping, digitally altered invoices and credit notes and illogical registration of patent ownership.

In their report to Trek's audit committee, auditors RSM also highlighted that founder CEO and chairman Henn Tan, former CFO Gurcharan Singh, executive director Poo Teng Pin and president of regional sales Foo Kok Wah were among the parties involved in some of these transactions.

Trek will be holding its AGM this morning at 10am. Trading of the stock has been halted after the audit announcement.

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