Wong Leon Keat, a former director at financial consultancy firm WLA Regnum, has be sentenced to eight weeks’ imprisonment and a fine of $30,000 for false trading and deceiving a brokerage firm while trading in the shares of Gaylin Holdings.           

Wong was convicted on Feb 11 following a joint investigation conducted by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD). The Singapore Exchange Securities Trading Limited (SGX-ST) was the one who referred the case to MAS.

Wong faces 17 charges under the Securities and Futures Act (SFA) for “creating misleading appearances with respect to the price of Gaylin shares”.

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