Ex-dealer who made $255k from illegally manipulating prices of SGX stocks gets 9 months’ jail

On Oct 28 Oh Wee Hian was sentenced to nine months in jail in the biggest case of stock market price spoofing detected in SGX.

On Oct 28, Oh, a 46-year-old Singaporean, was sentenced by District Judge Christopher Goh Eng Chiang to nine months in jail in the biggest case of stock market price spoofing detected in SGX. Court papers described how Oh manipulated or spoofed the prices of shares in a series of methodical moves that he took just seconds to execute each time.

He would then switch to his IG Asia account and sell the CFD back to IG Asia at a higher price than what he bought just seconds earlier, pocketing the price difference as profit. Between August 2020 and January 2022, Oh withdrew $175,810 from his CFD trading account at IG Asia and transferred the money into his personal bank accounts at POSB and OCBC.

During sentencing, Deputy Public Prosecutor David Koh asked the State Courts to sentence Oh to between 11 and 14 months’ imprisonment.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Co-conspirator in SGX market manipulation case gets 16 months' jail, over S$12,000 fineOon Yun Cong conspired with Kenneth Goh Jia Poh to fraudulently induce Telegram chat group members to buy shares, driving up the price to their benefit.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Women now make up 25% of boards at biggest SGX-listed companies; target met ahead of timeThis figure for the top 100 companies on the SGX has tripled from 7.5 per cent in 2013.
Source: straits_times - 🏆 5. / 69 Read more »

China's Stimulus Package Drives Surge in Singapore-Listed Chinese StocksSingapore Exchange (SGX) listed Chinese companies have seen significant stock price increases in recent days, fueled by Beijing's unexpected large-scale stimulus package. Companies like Yanlord Land and Sunpower Group have experienced notable surges, while others with China exposure are also benefiting from the optimism surrounding a potential economic revival.
Source: The Straits Times - 🏆 8. / 63 Read more »