2013 Penny Stock Crash

Ex-remisier Ng denies being coached; RHB trader Alex Chew admits to telling the whole truth only in third statement
SINGAPORE (Apr 23): In Day Six of the trial of John Soh Chee Wen, the defence wrapped up their cross examination of the prosecution’s first witness, former OCBC Securities remisier Ng Kit Kiat. Ng had on Monday admitted to having performed trades without third-party authorisation. The trades performed without third-party authorisation included those based on orders given by a certain Ang ...
Ex-remisier admits to conducting trades without third-party authorisation from account holders
SINGAPORE (Apr 22): Prosecution witness Ng Kit Kiat, a former OCBC Securities remisier, on Monday admitted to conducting trades on behalf of his clients without third-party authorisation. Ng is the prosecution’s first witness in the trial of alleged 2013 penny stock crash masterminds John Soh Chee Wen and Quah Su-Ling. It was revealed during the trial – which resumed this afternoon ...
Quah Su-Ling's lawyer accuses prosecution witness of 'inventing evidence', front-running
SINGAPORE (Mar 29): The drama continues in Day Four of the trial of John Soh Chee Wen and Quah Su-Ling as Quah’s defence counsel accused the prosecution’s first witness of “inventing evidence” and engaging in the practice of front-running. Continuing in his cross-examination of OCBC Securities remisier Ng Kit Kiat, Quah’s lawyer Philip Fong in court on Friday homed in on the daily ...
Prosecution witness coached by investigating officer, claims John Soh's lawyer
SINGAPORE (Mar 28): The defence counsel for John Soh Chee Wen, the alleged mastermind behind the 2013 penny stock crash, in court on Thursday accused the prosecution’s first witness of being coached by an investigating officer (IO). Ng Kit Kiat, a trading representative with OCBC Securities, had testified in court on Wednesday that Soh and his alleged co-conspirator Quah Su-Ling had slowly ...
Inner workings of penny stock scandal revealed by first prosecution witness
SINGAPORE (Mar 27): Ng Kit Kiat, a broker at OCBC Securities, was called as the first witness in penny stock crash trial on Wednesday, as the prosecution sought to reveal deeper insight into the details of the market manipulation scheme. According to Ng, alleged 2013 penny stock crash masterminds John Soh Chee Wen and Quah Su-Ling had slowly taken over control of a number of trading accounts ...
Prosecutors ask court to bar potential defence witnesses from penny stock crash trial
SINGAPORE (Mar 27): Prosecutors at the penny stock saga trial of John Soh Chee Wen and Quah Su-Ling have asked the court to bar two individuals closely-linked to the defendants from attending the court proceedings -- if they are to be called as defence witnesses. The two individuals are Quah Su-Yin, sister of Su-Ling, and Ronald Menon, husband of Su-Yin, both of whom are present at the public ...
The charismatic bankrupt behind Singapore's 2013 penny stock crash
SINGAPORE (Mar 26): Garbed in purple overalls, John Soh Chee Wen cuts a relaxed figure as he takes his seat. The garment falls fittingly on his athletic frame, not unlike a designer suit. It could well have made a fashion statement, save for the word "prisoner" emblazoned in white across the back. As his legal team huddled around him before the start of the trial, the 60-year-old is a picture ...
The charismatic bankrupt who allegedly pulled the strings behind Singapore's largest stock manipulation scandal
SINGAPORE (Mar 26): Garbed in purple overalls, John Soh Chee Wen cuts a relaxed figure as he takes his seat. The garment falls fittingly on his athletic frame, not unlike a designer suit. It could well have made a fashion statement, save for the word "prisoner" emblazoned in white across the back. As his legal team huddled around him before the start of the trial, the 60-year-old is a picture ...
Goh Hin Calm confirmed as prosecution witness as penny stock crash trial kicks off
SINGAPORE (Mar 25): Day One of the trial of the 2013 penny stock-rigging case saw Goh Hin Calm named as a prosecution witness. This comes after Goh on March 20 pleaded guilty to aiding and abetting John Soh Chee Wen, alleged mastermind behind the manipulation of the three stocks -- Asiasons (now known as Attilan Capital), Blumont and LionGold -- and his supposed co-conspirator, Quah Su ...
Penny stock crash scandal's 'treasurer' sentenced to three years' jail
SINGAPORE (Mar 20): Goh Hin Calm, the “treasurer” for 2013 penny stock crash masterminds John Soh Chee Wen and Quah Su Ling, has been sentenced to serve three years in prison for aiding and abetting the duo in what is the largest-ever market manipulation case seen in Singapore. Goh, who was interim CEO of IPCO International (now known as Renaissance United), pleaded guilty to two charges ...