Penny stock crash mastermind Soh Chee Wen jailed 36 years

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PETALING JAYA: Malaysian businessman John Soh Chee Wen has been sentenced to 36 years in jail in Singapore for masterminding the island republic’s biggest stock market manipulation.

According to a report in The Straits Times, his co-conspirator Quah Su-Ling, was handed 20 years.

he duo were found to have manipulated the share prices of Blumont Group, Asiasons Capital and Lion-Gold Corp — collectively known as BAL — between August 2012 and October 2013, and in the process wiped out nearly S$8 billion (RM27 billion) of the market’s capitalisation at the end of their spree.

Both are appealing their sentences.

Source: FMT