In court on Tuesday, Hafeez Ahmad Choudry, Chief Risk Officer of Crédit lndustriel et Commercial (CIC), revealed that Cheng had full authority over a corporate account owned by a British Virgin Isle-registered company, Carlos Place Investment Limited.
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 witness in the trial of Soh and Quah Su-Ling, the alleged masterminds behind the stock manipulation scandal, but has yet to be called to the stand.
