Soh was convicted of 180 charges and sentenced by High Court Judge Hoo Sheau Peng to 36 years in jail. Quah was found guilty of 169 charges and given 20 years behind bars. The charges involved false trading, price manipulation, deception, cheating and - in the case of Soh - witness tampering.
The appeal hearing of convicted market manipulators Soh Chee Wen and Quah Su-Ling resumed on Monday (May 5) after a two-month recess, with defence lawyer N Sreenivasan contending that the trial judge had downplayed the culpability of several prosecution witnesses who actively traded Blumont Group, Asiasons Capital and Liongold Corp before the stocks crashed in 2013.
Soh and Quah were found guilty in 2022 for orchestrating Singapore's largest securities fraud through the three stocks - collectively known as BAL. The scheme ran from August 2012 to October 2013 and ended abruptly when the shares collapsed on Oct 4, 2013, wiping out more than $8 billion in market value.
