Singapore prosecutors are seeking a 40-year jail sentence for John Soh Chee Wen for his role in the financial center’s biggest case of stockmarket manipulation that caused almost $8 billion in losses in 2013, the Straits Times reported.
Business News - Prosecutors are asking for a jail sentence of 40 years for John Soh Chee Wen, the mastermind of Singapore’s biggest case of stock market manipulation, that wiped out nearly $8 billion in market capitalisation in October 2013. A sentence of 19½ years’ jail is sought for. Read more at www.tnp.sg
MALAYSIAN businessman John Soh Chee Wen the accused mastermind of the 2013 penny stock crash and his co-conspirator Quah Su-Ling were found guilty by the Singapore High Court of the country’s most serious case of market manipulation last Thursday. They have been convicted of criminal conspiracy, including false trading, price manipulation, deception and cheating.
Two people were found guilty on Thursday of masterminding Singapore’s “most serious case” of market manipulation, wiping S$8.0 billion (US$5.8 billion) in a penny-stocks scam nearly a decade ago. Malaysian John Soh Chee Wen and Singaporean Quah Su-Ling were convicted of using over 180 trading accounts to inflate the share prices of three companies.
The Singapore High Court on Thursday convicted Malaysian businessman and woman, John Soh Chee wen and Quah Su-Ling for market manipulation and cheating offences that led to the 2013 penny-stock crash..