SINGAPORE - The Commercial Affairs Department is investigating the chief financial officer of technology firm Trek 2000.
The firm, which invented the thumb drive, said in a statement to the Singapore Exchange that its chief financial officer and executive director, Mr Gurcharan Singh, is assisting the CAD in investigations of a possible offence under the Penal Code.
The company said that Mr Gurcharan was interviewed by the CAD yesterday and has been requested to produce all personal banking, diaries, notebooks, phonebooks, e-mail and other storage devices.
CAD also requested information and data relating to the company's financial performance from the financial years 2011 to 2015 as well as all documents relating to the transactions with Taiwanese manufacturing firm Unimicron Technology and Indian sign manufacturer Colite Technology.
The firm's president of regional sales Mr Foo Kok Wah, head of research and development, Dr Shew Paul Wale and other employees have also been interviewed by the CAD, said the firm, adding that it does not have further details of the investigation.
The investigation into Trek 2000 comes after a special aduit in March showed documentation deficiencies related to sale transactions between its subsidiary and a customer. The value of the the deal was worth about US$3.2 million.
Its auditor Ernst & Young found several discrepancies including the identity of a customer in a transaction between Trek 2000's sales and its books, as well as the identity of the payer stated on bank notices showing payments of US$2.65 million made by the customer to the company.