Interpol red notice issued against ex-YuuZoo CEO, wanted in Singapore over misleading financial reports
Thomas Zilliacus and three others are wanted over their alleged involvement in the release of misleading statements in YuuZoo's financial reports.
Former executive chairman and CEO of e-commerce company YuuZoo Corporation Thomas Zilliacus. (File photo: Facebook/YuuZoo)
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SINGAPORE: A Singapore arrest warrant and an Interpol red notice have been issued against Finnish businessman Thomas Zilliacus, the former CEO and executive chairman of tech company YuuZoo Corporation.
He is wanted over his alleged involvement in the release of misleading statements in the company's financial reports, the Singapore Police Force (SPF) said on Wednesday (Feb 21).
Mr Zilliacus, 68, made headlines last year after making a surprise bid for English football club Manchester United.
Similar warrants of arrest have been issued against the company's chief financial officer Michael Parker and two independent directors Anthony Williams and Ozi Amanat.
The four men "have refused to return" to Singapore, said the police.
What is an Interpol red notice?
According to Interpol, red notices are issued for fugitives wanted either for prosecution or to serve a sentence.
It is a request to law enforcement agencies worldwide to locate and provisionally arrest a person, pending extradition, surrender or similar legal action.
Red notices are published by Interpol at the request of a member country and must comply with Interpol’s constitution and rules. A red notice is not an international arrest warrant, said Interpol.
Each member country decides what legal value it gives to a red notice and the authority of law enforcement officers to make the arrests.
YuuZoo, which was listed on the Singapore Exchange mainboard, released several financial reports between 2015 and 2016 that were allegedly misleading.
According to the police, the statements allegedly overstated YuuZoo’s revenue by US$4.6 million to US$18.8 million.
Former YuuZoo CEO James Matthew Somasundram was charged on Feb 21 under the Securities and Futures Act in connection with the breaches.
He was handed four charges.
"In particular, Somasundaram is alleged to have been negligent in connection with the financial reports released by YuuZoo for the fourth quarter of 2015, first quarter of 2016, second quarter of 2016 and third quarter of 2016," said the police.
If convicted, he faces a jail term of up to seven years or a fine of up to S$250,000 (US$186,000) for each charge, or both.
