John Soh Chee Wen

2022 - 12 - 28

36 years' jail for mastermind of scheme that led to S$8 billion penny ... (CNA)

SINGAPORE: The mastermind of a scheme that led to the largest and most serious case of market manipulation in Singapore, which wiped out S$8 billion from ...

She remains out on bail of S$4 million pending her appeal. Soh will not be appealing against the charges involving company management. These accounts were held with 20 financial institutions in the names of 60 individuals and companies. Advertisement

Penny stock crash mastermind John Soh gets 36 years' jail (The Star Online)

SINGAPORE: John Soh Chee Wen, the mastermind of Singapore's biggest case of stock market manipulation that wiped out nearly $8 billion in market value in ...

... As a starting point for the false trading and price manipulation charges, I will impose on Quah two-thirds of the sentence imposed on Soh.” - The Straits Times/ANN the accused are to be held responsible for most of the trades.” In issuing the sentences on Wednesday, High Court judge Hoo Sheau Peng said: “In terms of the large number of controlled accounts and intermediaries and financial institutions involved, and the substantial volume of BAL trades and high percentage of whole market’s trading volume, ...

Masterminds behind S$8 billion penny-stock crash of 2013 get 36 ... (TODAY)

SINGAPORE — The mastermind behind the S$8 billion penny-stock crash in late 2013, John Soh Chee Wen, was sentenced by the High Court on Wednesday (Dec 28) ...

Both the accused stated on Wednesday that they would be appealing against their conviction and their sentences. Advertisement SINGAPORE — The mastermind behind the S$8 billion penny-stock crash in late 2013, John Soh Chee Wen, was sentenced by the High Court on Wednesday (Dec 28) to 36 years in prison, while his co-conspirator, Quah Su-Ling, was sentenced to 20 years’ jail.

2013 penny stock crash mastermind John Soh faces 36 years' jail ... (The Edge Singapore)

Soh and Quah were on May 5 found guilty of several of the charges they were facing under three groups of criminal conspiracy including for forced trading, price ...

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Penny stock crash mastermind Soh Chee Wen jailed 36 years (Free Malaysia Today)

John Soh Chee Wen and Quah Su-Ling were found guilty of running a scheme between August 2012 and October 2013 that wiped out S$8 billion of the Singapore ...

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Malaysia's Soh Chee Wen jailed for 36 years by Singapore's court (New Straits Times Online)

KUALA LUMPUR: Malaysian businessman John Soh Chee Wen, the mastermind of Singapore's biggest case of stock market manipulation that wiped out nearly S$8 ...

For Quah, who was convicted on 169 charges, the prosecution sought consecutive sentences for six charges (two false trading charges, three deception charges and one cheating charge), and an aggregate sentence of 19-and-a-half-years' jail. The collapse of Pan-El in 1985 resulted in the closure of the Singapore and Malaysian stock exchanges for three days in order to contain the fallout on heavily leveraged stockbroking firms. Of the 180 charges on which Soh was convicted, prosecutors sought consecutive sentences for 11 charges (three of false trading, three deception charges, two cheating charges and three tampering charges) and an aggregate sentence of 40 years' jail.

Malaysian mastermind of 2013 Singapore penny stocks crash John ... (Malay Mail)

KUALA LUMPUR, Dec 28 — Malaysian businessman John Soh Chee Wen was sentenced today to 36 years' jail after being found guilty of masterminding Singapore's ...

The Singapore High Court found Soh guilty of 180 out of the 188 charges on May 5 while Quah was convicted of 169 out of 178 charges. Soh’s co-conspirator Quah Su-Ling was sentenced to 20 years' jail, The Edge Singapore and Channel News Asia reported. The Straits Times reported that Soh and Quah – now aged 62 and 57 respectively – are appealing against their Singapore jail sentences.

John Soh and Quah Su-Ling, masterminds behind S$8 billion penny ... (TODAY)

SINGAPORE — The mastermind behind the S$8 billion penny-stock crash in late 2013, John Soh Chee Wen, was sentenced by the High Court on Wednesday (Dec 28) ...

Penny stock crash mastermind John Soh gets 36 years' jail, Quah ... (The Straits Times)

Singapore's most audacious market manipulation case wiped out nearly $8 billion in market value in 2013. Read more at straitstimes.com.

But this failed, and the prices of the stocks crashed, wiping out $7.8 billion in market capital. In delivering the sentences on Wednesday, High Court judge Hoo Sheau Peng noted: “The accused persons perpetrated a scheme of substantial scale, complexity and sophistication. Even after the scheme failed, (Soh) continued to subvert justice and conceal what they had done. “They personally minded and tended to the intricate scheme they devised on an almost daily basis for a prolonged period of 14 months, taking steps to evade detection by the authorities. But as selling pressure continued to mount in the early days of October 2013, Soh and Quah then sought to support the price of BAL shares by using the controlled accounts to buy up shares. Soh and Quah are guilty of manipulating the share prices of BAL between August 2012 and October 2013.

Penny stock crash mastermind John Soh sentenced to 36 years' jail ... (The Edge Markets MY)

John Soh Chee Wen, who has been found guilty of masterminding the 2013 penny stock crash, has been sentenced to 36 years in jail while his co-conspirator ...

Leeson was sentenced to six and a half years in jail after pleading guilty to two counts of “deceiving the bank’s auditors and cheating the Singapore Exchange (SGX)”. Sreenivasan drew comparisons to 1985’s Pan-Electric crash, which resulted in the temporary closure of the Singapore and Kuala Lumpur stock exchanges. Soh was convicted of 180 of the 188 charges he faced while Quah was found guilty for 169 of the 178 charges she faced. He further pointed out that two of the largest companies listed on the SGX — ComfortDelGro and Sembcorp Industries, have market capitalisations of S$2.8 billion and S$5.5 billion respectively. The two “long-term partners in both business and personal affairs” had been on trial since March 2019 for orchestrating the manipulation of three penny stocks, Blumont Group, Asiasons Capital and LionGold Corp — collectively known as BAL — between 2012 and 2013. The brokers claimed to have received instructions on trades to be made from either Soh or Quah. Following this, the companies and individuals mentioned in the article had threatened legal action — with Blumont and LionGold subsequently filing defamation suits against The Edge Singapore and then editor Ben Paul — although neither suit went to court. She emphasises that Soh and Quah have perpetrated a scheme of substantial scale, complexity and sophistication, “boldly” exploiting the system armed with a good understanding of the securities and financial markets, as well as tapping on their extensive connections and networks. Quah was the former CEO of IPCO International, renamed Renaissance United in 2018. By the crash, immense harm was caused.” — Singapore High Court Justice Hoo Sheau Peng in her oral judgement against John Soh and Quah Su-Ling. By the crash, immense harm was caused.” The 36 years’ imprisonment includes his time of remand since Nov 25, 2016.

John Soh Chee Wen

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