SINGAPORE - The former chief executive of a company previously listed on the Catalist board of the Singapore Exchange (SGX) has been hauled to court after he allegedly misappropriated $500,000 in 2014.

Malaysian Lee Wan Sing, now 43, who was the CEO of steel trader Oriental Group, then left Singapore before investigations into the case had started.

The Singapore Police Force said in a statement on Thursday (Dec 23) that their Malaysian counterparts arrested him on Dec 1 this year, and he was taken back to the Republic.

He was charged in court three days later with one count of criminal breach of trust.

According to court documents, he had been entrusted with the cash paid by one Mr Lim Soon Huat.

The police did not disclose when Lee Wan Sing left Singapore or whereabouts he was arrested across the Causeway. Investigations into his case are ongoing.

The Business Times had earlier reported that Oriental Group was delisted in 2019.

The police said in their statement that three other people formerly linked to the firm were charged in court on Dec 10 with offences under the Securities and Futures Act.

They are: Chong Yong Von, 38; Lee Ong, 47; and Tan Seow Juay, 63.

Chong used to be the steel trader's finance manager while Lee Ong was its group financial controller. Tan used to be its substantial shareholder.

Tan and Chong are Singaporeans. Lee Ong is a Malaysian national who is also a Singapore permanent resident.

The trio now face between three and 24 charges each.

The police added: "These three individuals were charged with conspiring with various persons to engage in a course of conduct for the purpose of creating a false appearance of Oriental Group's share price between April 2015 and January 2016. The alleged impugned trades were placed through at least 52 trading accounts."

Separately, Lee Ong is also accused of instigating a former employee of Oriental Group to forge a document for the purpose of cheating.

He allegedly instigated one Mr Sim Yeng Fen to create a false document, purportedly issued by a company called GL Engineering.

Details about the "return note" dated March 1, 2016, were not disclosed in court documents.

The cases involving Lee Wan Sing, Lee Ong, Chong and Tan have been adjourned to January next year.

For criminal breach of trust, an offender can be jailed for up to 15 years and fined.

And for forgery for the purpose of cheating, an offender can be jailed for up to 10 years and fined.