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.

The Star Christmas Special Promo: Save 35% OFF Yearly. T&C applies.

Monthly Plan

RM 13.90/month

Best Value

Annual Plan

RM 12.33/month

RM 8.02/month

Billed as RM 96.20 for the 1st year, RM 148 thereafter.

Follow us on our official WhatsApp channel for breaking news alerts and key updates!
Singapore , John Soh , court , penny , stock , crash

Next In Aseanplus News

Hundreds of flights cancelled amid thick smog in India
How China pulled off a critical mineral production tech revolution in just 10 months
India charges Pakistan-based militant groups, six men over Kashmir tourist attack
Valiant Harimau Muda fall to hosts Thailand in SEA Games Under-23 semi-finals
China son nearly dies after sleeping on late mum’s bed in local tradition to help departed souls
Cricket-Stokes issues Ashes rallying cry for England players
Malaysia sets RM100bil franchise sales target by 2030, says Zahid
Asean News Headlines at 10 pm on Monday (Dec 15, 2025)
China strongly dissatisfied with criticism over court verdict on�Jimmy Lai
SEA Games 2025: Where are the fans? Empty seats a bummer at the events in Thailand

Others Also Read