Singapore penny-stocks scamster jailed for 36 years
Published: 03:12 PM,Dec 28,2022 | EDITED : 07:12 PM,Dec 28,2022
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A malaysian businessman convicted of masterminding a stock scam that wiped US$5.8 billion off Singapore’s exchange was sentenced on Wednesday to 36 years in jail by a court in the city-state.
John Soh Chee Wen orchestrated the scheme, according to court documents, and his accomplice, Singaporean Quah Su-Ling, was also given a 20-year jail term.
Both were convicted in May of using more than 180 trading accounts to inflate the share prices of three companies in what High Court judge Hoo Sheau Peng called a “scheme of substantial scale, complexity and sophistication”.
John Soh Chee Wen orchestrated the scheme, according to court documents, and his accomplice, Singaporean Quah Su-Ling, was also given a 20-year jail term.
Both were convicted in May of using more than 180 trading accounts to inflate the share prices of three companies in what High Court judge Hoo Sheau Peng called a “scheme of substantial scale, complexity and sophistication”.