SINGAPORE: Two former employees of CIMB Securities have been issued prohibition orders for false trading, after a market rigging case involving the former CEO and chairman of KS Energy Kris Wiluan.
Ms Ngin and Mr Yeo have also paid MAS civil penalties of S$100,000 and S$50,000 respectively without court action, said the financial regulator. He had rigged the market 112 times between Dec 19, 2014 and Sep 13, 2016 by giving instructions to push up or maintain the share price of KS Energy. Between Oct 13, 2015 and Sep 13, 2016, Ms Ngin traded KSE shares on 29 occasions, inflating the traded price by at least 5 per cent, said MAS.
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