Wong faces 17 charges under the Securities and Futures Act (SFA) for “creating misleading appearances with respect to the price of Gaylin shares”.
Wong Leon Keat, a former director at financial consultancy firm WLA Regnum, has be sentenced to eight weeks’ imprisonment and a fine of $30,000 for false trading and deceiving a brokerage firm while trading in the shares of Gaylin Holdings.
Wong was convicted on Feb 11 following a joint investigation conducted by the Monetary Authority of Singapore (MAS) and the Commercial Affairs Department (CAD). The Singapore Exchange Securities Trading Limited (SGX-ST) was the one who referred the case to MAS.
