2013 Penny Stock Saga

SINGAPORE (May 13): Four of the six prosecution witnesses who have testified so far at the trial of John Soh Chee Wen and Quah Su-Ling have been remisiers. The two who took the stand last week, however, stood up significantly better than the earlier two u

SINGAPORE (May 10): A witness in the trial of the alleged masterminds behind the 2013 penny stock crash has denied knowledge of manipulation in trading accounts linked to the scandal.

SINGAPORE (May 8): The prosecution in the trial of John Soh Chee Wen and Quah Su-Ling, the alleged masterminds behind the 2013 penny stock crash, in court on Wednesday dived deeper into telephone records to shine light on Quah’s hand behind trades made

SINGAPORE (May 6): Andy Lee Chee Wee, a former remisier at Lim & Tan Securities, could be the most interesting prosecution witness yet in the trial of John Soh Chee Wen and Quah Su-Ling, the alleged masterminds behind the steep rise and sudden collapse of

SINGAPORE (May 6): Only three prosecution witnesses have testified so far, but it is already becoming clear that John Soh Chee Wen and Quah Su-Ling are not the only ones on trial. Soh and Quah’s alleged manipulation of shares in Blumont Group, LionGold

SINGAPORE (May 3): With local brokerage firms already under siege from slumping commissions and waning investor interest, the ongoing trial of  John Soh Chee Wen and Quah Su-Ling in relation to the 2013 penny stock crash is unlikely to improve industry

SINGAPORE (Apr 29): The penny stock crash trial resumed on April 22, with lawyers for the two alleged masterminds casting doubts on the testimonies of prosecution witnesses. Two witnesses, both brokers, have taken the stand so far. Jack Ng Kit Kiat and Al

SINGAPORE (Apr 24): Alex Chew Keng Chiow, the RHB Securities remisier who is the prosecution’s second witness in the 2013 penny stock crash trial, has admitted that even his third conditional statement to the Commercial Affairs Department may have conta

SINGAPORE (Mar 28): The defence counsel for John Soh Chee Wen, the alleged mastermind behind the 2013 penny stock crash, in court on Thursday accused the prosecution’s first witness of being coached by an investigating officer (IO).

SINGAPORE (Mar 27): Ng Kit Kiat, a broker at OCBC Securities, was called as the first witness in penny stock crash trial on Wednesday, as the prosecution sought to reveal deeper insight into the details of the market manipulation scheme.