SEE:Gaylin's FY18 loss widens to $51.6 mil on inventory provisioning
Wong, in his personal capacity, introduced investors to invest in Gaylin shares. From 2012 to 2016, Wong had helped several individuals manage their investments and had control over their accounts in UOB Kay Hian. On 17 occasions, from Nov 11, 2015, to Oct 25, 2016, Wong bought Gaylin shares of 100 to 200 units per transaction through a UOB Kay Hian trading account under the names of one of these individuals. His trades caused shares in Gaylin to close 6.5% to 38.6% higher than they would have done otherwise. Wong says the “misleading appearance” with regard to Gaylin’s shares were done to “protect his reputation” as his company had been involved in Gaylin’s IPO process and he had introduced investors to invest in the company.