LinkedInOon Yun Cong, 35, pleaded guilty on Aug 12 to two charges under the Securities and Futures Act for fraudulently inducing others to deal in shares, said the Monetary Authority of Singapore on Thursday.Between Apr 30 and Nov 23 in 2020, he had made false statements on 10 occasions in two Telegram chat groups to induce members in those groups to buy shares in securities held by him, said MAS.
During the same period, Oon also conspired with his friend, 37-year-old Kenneth Goh Jia Poh, to make similar false statements on six other occasions in the same Telegram chat groups to induce members to buy shares in securities counters where the pair held shares. The pair often discussed stocks, and co-authored a blog providing technical analysis and commentaries on trading in Singapore-listed stocks.