Malaysian businessman jailed for 36 yrs for mkt manipulation in Singapore ...Middle East

Business Standard - Economy
source : Business Standard ( Middle East ) () 16
The Malaysian mastermind behind Singapore's biggest stock market manipulation, which wiped out nearly SGD8 billion in market value in October 2013, was sentenced to 36 years in jail while his co-conspirator was handed a 20-year jail term by a court here on Wednesday. John Soh Chee Wen, a 62-year-old prominent Malaysian businessman, and his ex-partner and accomplice Quah Su-Ling, 58, were found to have manipulated the share prices of Blumont Group, Asiasons Capital and LionGold Corp (collectively known as BAL) between August 2012 and October 2013, the Straits Times newspaper reported. They did it through 187 trading accounts held with 20 financial institutions in the names of 58 individuals a

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