The scheme involved the buying and selling of Koyo shares via a total of 53 trading accounts under the names of 15 individuals across eight brokerages.
The mastermind behind the share price manipulation of Catalist-listed Koyo International (SGX:5OC
) , Andrew Lin Eng Jue, has been sentenced to 42 months’ imprisonment by district judge Chay Yuen Fatt at the State Courts.
Over a 17-month period between 2014 and 2016, Lin was accused of leading a scheme to manipulate the price of Koyo shares from a low of 16 cents Aug 12, 2014 to a high of 40 cents in January 2016.
