FIVE former remisiers from various brokerages were charged in the State Courts on Thursday morning for false trading. Read more at The Business Times.
There were 80 charges brought against Alan Lee, a former remisier with OCBC Securities, for false trading in 55 securities on 80 occasions. Chew, who was from DBS Vickers Securities, faces 79 charges for false trading in 53 securities on 79 occasions.
Lee Wei Kai, who was previously at Phillip Securities, faces 61 charges for false trading in 44 securities on 61 occasions. Lim Ming Yi, formerly with Maybank Kim Eng Securities, faces 55 charges for false trading in 41 securities on 55 occasions, and Lim Ming Chit, an ex-remisier with Phillip Securities, faces 22 charges for false trading in 19 securities on 22 occasions.The offences allegedly took place between March 2015 and April 2016. If found guilty, they face a maximum fine of S$250,000 and jail of up to seven years for each charge of false trading.
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