Home News 2013 Penny Stock Crash

Blumont's James Hong agrees he is 'special' for receiving John Soh's help and advice

The Edge Singapore
The Edge Singapore4/16/2021 07:00 AM GMT+08  • 10 min read
Blumont's James Hong agrees he is 'special' for receiving John Soh's help and advice
Besides purportedly giving advice, Soh was also actively doing rollover contra trades in Hong’s accounts.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Witness James Hong has been impeached by the prosecution for multiple inconsistencies in the testimonies he gave in court, versus statements he made earlier to the police.

Hong, a former executive director of Blumont Group, recently took the stand at the long-running trial of John Soh Chee Wen and Quah Su-Ling. The duo are on trial for allegedly orchestrating a massive share manipulation scheme that sent the prices of Blumont, LionGold Corp (since renamed Shen Yao Holdings) and Asiasons Capital (renamed Attilan Capital and subsequently, delisted).

When the prices of these three shares crashed under short selling pressure in October 2013, some $8 billion in market value was destroyed.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now