Two M’sians convicted for market manipulation in S’pore

: Malaysians Soh Chee Wen, and Quah Su-Ling were today convicted by the Singapore High Court for market manipulation and cheating offences involving an elaborate scheme to manipulate the shares of Blumont Group Ltd, Asiasons Capital Ltd, and LionGold Corp Ltd.

In particular, the statement said the trades between the controlled accounts were conducted to generate artificial liquidity and demand for these shares, to cause the share prices to rise over time, and to retain control of large amounts of shares without disclosing this to the market.“This is the largest market manipulation case in Singapore’s history,” said the statement.

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