PETALING JAYA: Seven individuals from Malaysia and Taiwan have been charged in connection with a large-scale "pump and dump" investment fraud scheme, resulting in US authorities seizing over US$214mil in illicit gains.
According to CBS News, Federal prosecutors in Chicago announced that the following individuals have been charged with wire fraud and securities fraud: Lim Xiang Jie Cedric, 50, from Malaysia; Ming-Shen Cheng, 36, from Taiwan; Ko Sen Chai, 57, from Malaysia; King Sung Wong, 39, from Malaysia; Siong Wee Vun, 37, from Malaysia; Chien Lung Ma, 54, from Taiwan; and Kok Wah Wong, 56, from Malaysia.
