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.
CONVICTED stock market manipulator Soh Chee Wen led a colourful life in the corporate world as well as the political scene. He was charming to those he wanted to please and played to the gallery when the opportunity arose. For instance, upon his return to Malaysia in May 2002 after being on the run for three years since April 1999 Soh made his first public appearance at a Chinese school in Puchong, Selangor. He donated RM10,000 to (SJKC) Sin Min, a school that he had long been associated with, especially for its funding needs.
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..