Main image: Chan (left, with Lok (centre) and Guruprasad): We don’t claim to cover every type of market manipulation

SINGAPORE (Apr 9): The rise in the share prices of Blumont Group, LionGold Corp and Asiasons Capital (now known as Attilan Group) made some investors rich. Trading in those three stocks added to the Singapore Exchange’s liquidity. Coupled with strong interest in other penny stock counters, the market looked like it was in good health.

Then, in 2013, the three stocks plunged. It turned out that they had been subject to market manipulation. Investor interest in small- and mid-caps dried up. And remisiers complained their clients had lost confidence in the Singapore market.

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