S$8bil penny stock crash: How the 'most audacious' market manipulation scheme unfolded


(From left) John Soh Chee Wen, Quah Su-Ling and Goh Hin Calm. - ST FILE, KEVIN LIM

SINGAPORE (The Straits Times/Asia News Network): After nearly 200 days of trial over the past three years, the Singapore High Court on Thursday (May 5) found penny-stock saga masterminds John Soh and Quah Su-Ling guilty of a whopping 349 charges, nearly all involving share manipulation and cheating.

Soh was said to have conspired with his business partner and girlfriend Quah to artificially inflate the share prices of penny stocks Blumont Group, Asiasons Capital and LionGold Corp through a web of 189 trading accounts held with 20 financial institutions and 60 individuals and companies.

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