<div id="readability-page-1"><div>SINGAPORE - The former chief executive officer and director of KTL Global, Tan Kheng Yeow, has been convicted of criminal breach of trust (CBT) involving almost $1 million, the Singapore Police Force said on Nov 18.He was sentenced to two years and eight months in jail for diverting about $1 million away from, ostensibly, the purchase of machinery by a KTL Global unit to instead create a false appearance of active trading in KTL Global shares using the funds.Formerly listed on the Singapore Exchange mainboard, KTL Global is a holding company that reportedly owned several subsidiaries, including KTL Offshore (KTLO). Tan was a director of, and was entrusted with, managing KTLO’s bank accounts.On or around April 23, 2015, Tan informed KTLO that a transfer of about $1 million from KTLO to KTL Offshore Hong Kong (KTL HK) was required. On or around May 5 that year, he instructed the transfer to be made from KTLO to KTL HK. Subsequently, $999,980 was transferred on May 20.The transfer was supposedly for KTL HK to purchase machinery on behalf of KTL Offshore Technology (Nantong), a joint venture company in which KTLG held a 40 per cent stake. The Nantong unit in turn held a 40 per cent stake in KTL HK.But Tan diverted the funds to share trading, in particular to finance KTL Global trades. This was done by using various trading accounts to artificially create a false appearance of active trading in KTL Global’s shares.He was convicted in January 2024 of false trading and was jailed for eight months, which he served after the courts rejected his appeal. He was found to have engaged in a conspiracy with another individual to create a false appearance of active trading in KTL Global shares to help the company meet SGX’s six-month minimum volume weighted average price of 20 cents. The company was delisted in 2024.On the latest conviction, Tan initially claimed trial but pleaded guilty to one count of criminal breach of trust midway through the trial proceedings, said the police. He was convicted by the State Courts on June 20 this year. A similar charge involving $500,000 was taken into consideration for the purposes of sentencing. THE BUSINESS TIMES</div></div>

Former KTL Global CEO Tan Kheng Yeow was sentenced to two years and eight months in jail for misappropriating $1 million. He diverted funds meant for machinery purchase to create a false appearance of active trading in KTL Global shares. Tan pleaded guilty to criminal breach of trust, with a similar charge involving $500,000 considered for sentencing. KTL Global was delisted in 2024 after Tan's conviction for false trading.

KTL Global ex-CEO Tan Kheng Yeow jailed for misappropriating $1 million