An OCBC Securities remisier was among a group of local brokers who testified to taking unauthorised trading instructions from John Soh Chee Wen and girlfriend Quah Su-Ling, accused of masterminding Singapore's most serious case of stock market manipulation, a court heard yesterday.. Read more at straitstimes.com.
An OCBC Securities remisier was among a group of local brokers who testified to taking unauthorised trading instructions from John Soh Chee Wen and girlfriend Quah Su-Ling, accused of masterminding Singapore's most serious case of stock market manipulation, a court heard yesterday.
He said he was"so scared" as he knew what he had done was a"very serious offence" and feared that his trading licence could be cancelled. Mr Ng, also known as Jack Ng, explained how he came to be Quah's trading representative and how she later introduced her mother Lim Siew Hooi, former interim chief executive of Ipco International Goh Hin Calm and LionGold's then independent director Ng Su Ling to open accounts at OCBC Securities. Quah described them as"good friends and also contra players".
When he spoke to Quah, she allegedly threatened to leave OCBC Securities and go to another brokerage firm, he said. Soh and Quah were accused of manipulating the prices of three penny stocks - Blumont Group, Asiasons Capital and LionGold Corp - from Aug 1, 2012, to Oct 3, 2013.When he started chasing Quah for payment of contra losses in some accounts, she allegedly told him to meet her at LionGold's office. She did not show up, Mr Ng said. Instead, he met Soh, who he knew was"a prominent figure in the stock market".
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