Quah Su Ling

John Soh named in US suit filed against former IPCO International

SINGAPORE (May 16): Renaissance United, the renamed IPCO International, has been sued in the US state of Washington by an entity called Renovatio LLC.

Soh Chee Wen is named as one of the co-defendants in the civil suit as well. Also known as John Soh, he is now standing trial with his co-accused Quah Su Ling, former CEO of IPCO International, for being the alleged masterminds behind the manipulation of three penny stocks -- Blumont Group, Asiasons Capital (now called Atillan Group) and LionGold Corp -- back in 2013.

SGX restrictions could have caused 2013 penny stocks crash, says Lim & Tan director

SINGAPORE (May 13): Esther Seet, executive director of brokerage firm Lim & Tan Securities, reckoned "on hindsight" restrictions imposed by the Singapore Exchange on stocks of Blumont Group, Asiasons Capital (now known as Attilan Group) and LionGold Corp (BAL) could have caused the 2013 penny stocks crash.

Prosecution witness Lee accused of lying and concealing facts in court

SINGAPORE (May 6): The trial of John Soh Chee Wen and Quah Su Ling resumed on Monday with defence counsels accusing former Lim & Tan remiser Andy Lee Chee Wee of lying and concealing facts in court.

Soh’s lawyer, Senior Counsel N. Sreenivasan, confronted Lee, asking why he had chosen to lie despite warnings by the Commercial Affairs Department (CAD) officer before each interview. 

In the warning, interviewees are told that they could decline to answer questions if it implicated themselves, but that lying would constitute an offence.

Doubts cast on testimonies of prosecution witnesses at trial of John Soh and Quah Su-Ling

SINGAPORE (Apr 29): The penny stock crash trial resumed on April 22, with lawyers for the two alleged masterminds casting doubts on the testimonies of prosecution witnesses. Two witnesses, both brokers, have taken the stand so far. Jack Ng Kit Kiat and Alex Chew Keng Chiow are among the dozen or so brokers who executed trading orders in the shares that were allegedly manipulated. Over three days of hearings last week, they were also shown to have not followed proper procedures in managing clients’ accounts.

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'Fearful' prosecution witness admits even third statement might not have been the whole truth

SINGAPORE (Apr 24): Alex Chew Keng Chiow, the RHB Securities remisier who is the prosecution’s second witness in the 2013 penny stock crash trial, has admitted that even his third conditional statement to the Commercial Affairs Department may have contained some untruths.

Chew had earlier claimed that he only told the whole truth in his third statement to the CAD.

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).

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 that were later used to manipulate the market.

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 gallery today.

Su-Yin was the CEO of ISR Capital, one of the stocks allegedly manipulated by Soh. She was appointed to that role back in April 29, 2011.

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 of calm. At one point, he casually flashes a thumbs up at his lead counsel, N Sreenivasan, a managing director and senior counsel at Straits Law LLP.

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 Ling.

Described by authorities as the pair’s former “treasurer”, Goh -- who was sentenced to three years’ jail -- will now testify against Soh and Quah.

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