Ex-GS Holdings CEO charged with alleged false trading, obstruction of justice
The former CEO of SGX Catalist-listed GS Holdings was charged on Wednesday (Nov 4) with alleged stock manipulation and obstructing justice.The firm is behind several food courts and food centres in Singapore.Pang Pok, 68, along with Koh Kim Seng, 62, and Chong Fatt, 60, are accused of creating a misleading appearance with respect to the price of GS Holdings’ securities.Police said the alleged offences took place between January 2022 and October 2023, saying that Pang and Chong are also accused of deleting chat messages from their mobile phones relating to the said conspiracy.A joint investigation was carried out by its Commercial Affairs Department and the Monetary Authority of Singapore, following a referral from the Singapore Exchange (SGX) Regulation.Checks on GS Holdings' filing with SGX show that Pang resigned as executive director of the company on June 1, 2024, but had remained as its chief executive office.In its filing, the company said the resignation is part of the board's renewal and refresh, while Pang focuses on operational matters.He stepped down as the company's CEO in December 2024.