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KS Energy CEO Kris Wiluan charged for alleged false trading and market rigging

Felicia Tan
Felicia Tan • 2 min read
KS Energy CEO Kris Wiluan charged for alleged false trading and market rigging
Wiluan, who has a personal net worth of US$240 million ($330 million), is out on court bail of $250,000.
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Indonesian tycoon and CEO of Singapore-listed KS Energy Kris Taenar Wiluan was charged by the Commercial Affairs Department (CAD) on Wednesday (August 5), in relation to the violation of Section 197 of the Securities and Futures Act (SFA).

Section 197 of the SFA deals with the act of false trading and market rigging transactions.

Wiluan, who currently faces 112 charges, was questioned, along with his son Richard, by the CAD for possible market rigging in April 2017.

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