Tan Chee Keong, former CFO of Broadway Industrial Group, was charged in court earlier today for insider trading.

Tan allegedly leaked news to one Tay Yew Khem  and Hui Choy Leng that the company had reached an agreement to sell two of its businesses.

The news was made public on Aug 22 2016.

Tay and Hui, who bought Broadway shares in July and August 2016, were charged together with Tan.

In addition to allegedly leaking the information, Tan received $30,000 from Tay as benefits.

Want our latest Singapore corporate news stories for FREE

Follow our Telegram, Facebook for the latest updates round the clock


He resigned from the company in Aug 2017, citing, the desire to “pursue other opportunities and personal interests”.

See also: Broadway Industrial calls off deal to sell hard disk drive business

As for Hui, she is also accused of deceiving OCBC Securities, by using her father’s account to purchase Broadway shares without notifying the brokerage that she was the person conducting the transactions.

Tan, the ex-CFO, faces 3 charges, comprising 2 counts of communicating insider information and one count of acquiring property which represented his benefits of criminal conduct.

Tay, who paid Tan, faces 13 charges, comprising 12 counts of insider trading and one count of transferring property which represented Tan’s benefits of criminal conduct.

Hui, meanwhile, faces seven charges, comprising six counts of insider trading of Broadway shares and one count of unauthorised trading.

The investigation was jointly conducted by the Monetary Authority of Singapore and the Commercial Affairs Department of the Singapore Police Force.