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Apex court upholds lengthy jail terms for duo behind Singapore penny stocks crash

Frankie Ho
Frankie Ho • 4 min read
Apex court upholds lengthy jail terms for duo behind Singapore penny stocks crash
John Soh (left) and Quah Su Ling. Photo: Albert Chua/The Edge Singapore
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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.

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.

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