Tay had pleaded guilty to and was convicted of two charges of insider trading under the Securities and Futures Act (SFA) and one charge of transferring benefits from criminal conduct under the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act (CDSA) on March 6.
The court has convicted Tay Yew Khem and Hui Choy Leng for insider trading in the shares of Broadway Industrial Group (SGX:B69
) .
Tay was sentenced to 12 weeks in jail while Hui was sentenced to four months imprisonment.
