The syndicate is alleged to be running the scams on the Hong Kong Stock Exchange. - AFP
SINGAPORE (The Straits Times/Asia News Network): For the first time, securities regulators and law enforcement agencies in Singapore and Hong Kong have teamed up to cripple a cross-border syndicate running pump-and-dump scams.
The syndicate is alleged to be running the scams on the Hong Kong Stock Exchange, by buying up shares and spreading false positive news about certain companies, artificially pumping up its stock prices.
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