Trading of Trek 2000 shares halted; evidence of round-tripping, phantom sales and altered invoices by founder Henn Tan uncovered

SINGAPORE (Apr 24): RSM Corporate Advisory, the forensic accountants at Trek 2000 International, have uncovered evidence founder CEO and chairman Henn Tan, former CFO Gurcharan Singh were among the parties involved in suspicious transactions involving round-tripping, phantom sales and digitally altered invoices and credit notes.

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

To recap, Trek's audit board had appointed RSM in June 2016 to help conduct an independent review into certain IPTs as well as review any suspicious transactions which were the subject of Commercial Affairs Department (CAD) investigations.

---

Related Stories

• Briefs: Lawrence Wong signals rich have to pay more taxes; Singapore's NODX up by 7% y-o-y in July
• Trek 2000 founder pleads guilty to cheating, falsifying company financial statements
• Bruised by past woes, Trek 2000 charts new growth path with lessons learnt

---