Following investigations by the Commercial Affairs Department (“CAD”) and the Inland Revenue Authority of Singapore (“IRAS”), Tan Nuan Seng Francis (“Tan”), aged 46, and Yeo Soon Teck, Kelvin (“Yeo”), aged 41, were charged in court today for their alleged involvement in perpetrating a Goods and Services Tax (“GST”) Missing Trader Fraud involving approximately $55 million in fictitious sales. A third man, Sia Hock Chuan (“Sia”), aged 56, was also charged in court on 24 August 2023 for allegedly breaching his director’s duties. This is the second prosecution involving such fraud.
Source: iras.gov.sg
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