By Massita Ahmad
<\/p>\n\n\n\n
SINGAPORE, March 25 (NNN-BERNAMA) — Malaysian businessman Soh Chee Wen pleaded not guilty Monday to 189 charges on the first day of his long-awaited trial over the penny stock crash about six years ago which cleansed S$8 billion (about RM24 billion) from the Singapore share market.<\/p>\n\n\n\n
His partner, Quah Su-Ling, also pleaded not guilty to 178 charges before High Court Judge Hoo Sheau Peng.<\/p>\n\n\n\n
Soh, 59, and Quah, 54, have been charged with orchestrating a massive fraud to manipulate the market over the shares of Blumont Group Ltd, Asiasons Capital Limited and LionGold Corp Ltd between August 2012 and October 2013. <\/p>\n\n\n\n
Charges had also been tendered against Goh Hin Calm, a key accomplice of Soh and Quah.<\/p>\n\n\n\n
Goh, 59, however, had on March 20, 2019, pleaded guilty to two of six charges of aiding and abetting Soh and Quah. <\/p>\n\n\n\n
He was sentenced to jail terms of three years for each of those charges, which will run concurrently.<\/p>\n\n\n\n
It was made to understand that Goh’s decision to plead guilty may turn him as a prosecution witness.<\/p>\n\n\n\n
When the alleged offences took place, Quah was a director and the CEO of IPCO International Ltd while Goh was the senior finance and administration manager of IPCO.<\/p>\n\n\n\n
The first 10 charges against Soh and Quah fall under Section 197 of the Securities and Futures Act (SFA) and Section 109 of the Penal Code. <\/p>\n\n\n\n
It is learned that this is the largest market manipulation case in Singapore\u2019s history.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
By Massita Ahmad SINGAPORE, March 25 (NNN-BERNAMA) — Malaysian businessman Soh Chee Wen pleaded not guilty Monday to 189 charges on the first day of his long-awaited trial over the penny stock crash about six years ago which cleansed S$8 billion (about RM24 billion) from the Singapore share market. His partner, Quah Su-Ling, also pleaded […]<\/p>\n","protected":false},"author":19,"featured_media":14219,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/16175"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16175"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/16175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/14219"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16175"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}