SINGAPORE (May 24): After stretching over nearly two months, hearings for the first tranche of witnesses in the trial of alleged 2013 penny stock crash masterminds John Soh Chee Wen and Quah Su-Ling has finally come to an end. So far, 12 prosecution witnesses – mostly remisiers and dealers – ha...

SINGAPORE (May 23): The prosecution and defence in the 2013 penny stock crash trial on Thursday crossed swords over how conditioned statements had been prepared, and the relevancy of questions raised in cross-examination of these statements. Deputy public prosecutor Peter Koy said questions by the ...

SINGAPORE (May 22): Prosecution witness Ong Kah Chye revealed trades in three accounts under him were solely executed on the instructions of John Soh Chee Wen. The former Maybank Kim Eng Securities dealer admitted he had received instructions from Soh for accounts belonging to three clients – Pet...

SINGAPORE (May 21): Prosecution witness Goh Chiu Goik, an assistant manager at Phillip Securities (PSPL), in court on Tuesday said some trading forms that were not correctly filled out because of “clerical oversight” that led to some details not being checked properly. In his cross-examination ...

SINGAPORE (May 17): Evidence in the trial of the alleged masterminds of the 2013 penny stocks crash on Friday showed that an employee of Quah Su-Ling, the second accused, had made cash payments for the implicated accounts held in brokerage firm Phillip Securities (PSPL). PSPL assistant general mana...

SINGAPORE (May 16): Brokerage firm KGI Securities had filed Suspicious Transaction Reports (STRs) for three of 20 trading accounts allegedly manipulated by the masterminds behind the 2013 penny stocks crash, the court heard on Thursday. During examination-in-chief by Deputy Public Prosecutor David ...

SINGAPORE (May 16): Renaissance United, the renamed IPCO International, has been sued in the US state of Washington by an entity called Renovatio LLC. Soh Chee Wen is named as one of the co-defendants in the civil suit as well. Also known as John Soh, he is now standing trial with his co-accused Qu...

SINGAPORE (May 14): John Soh Chee Wen’s former romantic partner, Adeline Cheng Jo-Ee, had full control over a bank account used to trade in shares related to the 2013 penny stock crash – even though she was not the beneficial owner, the court heard today. Cheng has been named as a prosecution w...

SINGAPORE (May 13): Executive director of Esther Seet brokerage firm Lim & Tan Securities reckoned "on hindsight" restrictions imposed by the Singapore Exchange on stocks of Blumont Group, Asiasons Capital (now known as Attilan Group) and LionGold Corp (BAL) could have caused the 2013 penny sto...

SINGAPORE (May 10): A witness in the trial of the alleged masterminds behind the 2013 penny stock crash has denied knowledge of manipulation in trading accounts linked to the scandal, and said her brokerage firm would have closed the accounts immediately had they known about it. Esther Seet, execut...