A three-judge bench comprising Chief Justice Sundaresh Menon and Justices Tay Yong Kwang and Andrew Phang considered whether the sentences imposed by High Court Judge Hoo Sheau Peng should be revised.
Convicted market manipulators John Soh Chee Wen and Quah Su-Ling have failed in their appeal for less jail time, after Singapore’s apex court upheld their original prison terms imposed in 2022 for orchestrating the country’s largest securities fraud.
In a decision delivered on Wednesday (March 18), the Court of Appeal affirmed that the custodial terms – 36 years for Soh and 20 years for Quah – were warranted given the scale, sophistication and market impact of their offences.

