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SINGAPORE: Over three years, the chief executive officer of listed luxury car distribution company Eurosports Global instructed others to conduct trades in the company’s shares.<\/p>\n
Goh Kim San, a 69-year-old Singaporean, was fined S$210,000 (US$166,110) by a court on Wednesday (Sep 9) for three counts of false trading.<\/p>\n
He paid the full fine. He would have had to serve 21 months’ jail in lieu of payment if he had failed to pay.<\/p>\n
Goh, who is also known as Melvin <\/strong>Goh, pleaded guilty to three charges under the Securities and Futures Act for false trading. Another 16 charges were taken into consideration.<\/p>\n The court heard that Eurosports Global has been listed on the Catalist Board of the Singapore Exchange (SGX) since January 2014.<\/p>\n Between January 2014 and July 2021, Goh held share trading accounts with brokerage firms.<\/p>\n In addition to using his own trading accounts, he caused the trading accounts of three other people to be used to trade Eurosports shares.<\/p>\n Two of them were his friends, while one was a former sales manager at a subsidiary of Eurosports.<\/p>\n Goh caused buy and sell orders of Eurosports shares to be placed on 42 occasions across 22 trading days.<\/p>\n He knew this was likely to create a false or misleading appearance of active trading but did so to avoid making disclosures for his share purchases as CEO as he found it cumbersome.<\/p>\n This was on top of his dislike of the inactivity in the share counter.<\/p>\n The prosecution sought a total fine of S$250,000 for Goh, noting that the offences were committed over a sustained period, with cross trades occurring 31 times across 13 trading days.<\/p>\n While Goh did not directly profit, he was motivated by self-interest and personal gain, said Deputy Public Prosecutors Magdalene Huang and Wong Shiau Yin.<\/p>\n They said Goh was motivated by a desire to avoid a “flat line” on the share counter of Eurosports, as he “disliked the appearance of inactivity”.<\/p>\n Goh was represented by Ms Melanie Ho, Mr Tang Shangwei and Ms Neo Yi Ling from WongPartnership.<\/p>\n They sought a fine of S$180,000 instead, saying this was Goh’s first brush with the law.<\/p>\n The defence lawyers said Goh started from humble beginnings, with only an O-Level education. After that, he worked in his father’s motor workshop and learned the automobile trade.<\/p>\n He began Eurosports in 1998, initially distributing only the Lotus brand.<\/p>\n The lawyers said Eurosports was a relatively illiquid counter, with the average daily traded volume of shares at the time of the offences being 447,928. This was only 0.18 per cent of the total issued shares.<\/p>\n They said that Goh likened the absence of trading activity to a flat line in the intensive care unit \u2013 a symbol of death.<\/p>\n “For the company whose listing represented the culmination of his life’s work, Mr Goh wanted to create ‘blips’ in trading activity to avoid this ‘flat line’,” said the lawyers.<\/p>\n They said Goh was motivated by “vanity, not deception”.<\/p>\n They added that there was a “limited scale” of market distortion and no evidence of any investor loss or any financial benefit to Goh.<\/p>\n The lawyers added that the proceedings have been “hanging over” Goh’s head for about four years since investigations began, and this has taken a significant emotional and psychological toll on him.<\/p>\n Negative publicity has also affected the company’s relationships with its investors and counterparties, they said.<\/p>\n For false trading, he could have been jailed for up to seven years, fined up to S$250,000, or both.<\/p>\n<\/div>\n SINGAPORE: Over three years, the chief executive officer of listed luxury car distribution company Eurosports Global instructed others to conduct trades in the company’s shares….<\/p>\n","protected":false},"author":1,"featured_media":83508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/dam.mediacorp.sg\/image\/upload\/s--MBjgWxRF--\/c_crop,h_607,w_1080,x_0,y_204\/c_fill,g_auto,h_676,w_1200\/f_auto,q_auto\/v1\/mediacorp\/cna\/image\/2025\/08\/05\/goh_kim_san_4.png?itok=fJwgObsk","fifu_image_alt":"","footnotes":""},"categories":[2],"tags":[2079,5668,22592,29739,6871,1148,899,3656,401,1605],"class_list":["post-83507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buzz-news-sg-global","tag-car","tag-ceo","tag-distributor","tag-eurosports","tag-false","tag-fined","tag-global","tag-luxury","tag-share","tag-trading","wpcat-2-id"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/83507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=83507"}],"version-history":[{"count":0,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/posts\/83507\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=\/wp\/v2\/media\/83508"}],"wp:attachment":[{"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sgbuzz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}THE CASE<\/h2>\n
HUMBLE BEGINNINGS: LAWYERS<\/h2>\n
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