The police and Inland Revenue Authority of Singapore (Iras) said in a joint statement on April 8 that the alleged offences by the man - the sole director and shareholder of a Singapore-incorporated, GST-registered firm came to light after investigations by the Commercial Affairs Department and Iras.
Between October 2012 and June 2014, the man is alleged to have fraudulently traded high-value electronic goods totalling about $252 million through the company, before creating false invoices to support GST refund claims by exporters.
The man is believed to have also forged invoices from suppliers.
The man also faces charges over allegedly making false entries in the company's GST returns during the same period of time to evade GST amounting to more than $4.26 million.
This story is from the April 09, 2024 edition of The Straits Times.
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This story is from the April 09, 2024 edition of The Straits Times.
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