Irfan,
If you need legal help, there is an avenue that you can take.
On another note,
I hope you somehow have photocopies of his and his wife's passports.
Btw, if the company was registered under a Pte Ltd company, you probably won't be a bankrupt.
But be prepared to do a lot of work to clear your name.
Please proceed with what fuzztremecho has mentioned, it will make everything much easier.