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CEO of Singapore-listed KS Energy charged with 112 counts of market rigging offences

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SINGAPORE: The CEO and chairman of mainboard-listed KS Energy Limited was charged on Wednesday (Aug 5) with more than 100 counts of market rigging ...

SINGAPORE: The CEO and chairman of mainboard-listed KS Energy Limited was charged on Wednesday with more than 100 counts of market rigging offences, with the company saying in a stock exchange filing that its business and operations remain unaffected.

According to the charge sheets, Wiluan is said to have instructed Ho Chee Yen, a 56-year-old female manager at his office, to instruct the trading representative in CIMB Securities servicing the account of Pacific One Energy, a company he owned and controlled, to use the account to purchase KS Energy shares.

Ho, a Singaporean, was charged with 92 counts of violating the SFA. She was accused of"intentionally aiding" Wiluan in the market rigging by relaying his instructions to the relevant trading representatives, said the release.If convicted, Wiluan and Ho face up to seven years in jail, a fine of up to S$250,000, or both, for each charge.

Wiluan and his son, Richard James, were interviewed in 2017 by the Commercial Affairs Department into a potential contravention of the SFA. Wiluan was released after his interview and posted bail, while his son did not require bail when released, KS Energy said in filing in April 2017.

 

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KS Energy CEO Kris Wiluan faces 112 charges for alleged false trading, market rigging[SINGAPORE] Indonesian tycoon and chief executive of offshore and marine company KS Energy, Kris Taenar Wiluan, was slapped on Wednesday morning with 112 charges in relation to violations of Section 197 of the Securities and Futures Act, which deals with false trading and market-rigging transactions. Read more at The Business Times.
ソース: BusinessTimes - 🏆 15. / 51 続きを読む »

Indonesian tycoon Kris Wiluan faces 112 charges of alleged false trading, market rigging of Singapore-listed KS Energy sharesSINGAPORE - Indonesian tycoon and chief executive of offshore and marine company KS Energy, Kris Taenar Wiluan, was slapped on Wednesday morning (Aug 5) with 112 charges in relation to violations of Section 197 of the Securities and Futures Act, which deals with false trading and market-rigging transactions.. Read more at straitstimes.com.
ソース: The Straits Times - 🏆 8. / 63 続きを読む »