Allegedly Defiant Penny Stock Manipulator said «House is Full of Lawyers»
A former broker in Singapore claimed that alleged penny stock manipulator Quah Su-Ling brazenly responded to his suspicions of malicious trading boasting that her house was «full of lawyers».
The trial of Quah and Malaysian businessman John So Chee Wen is underway over charges that they manipulated several Singapore-listed penny stocks that led to an 800 percent peak-to-trough rout and an eventual S$8 billion ($5.8 billion) wipeout
«What are you scared of?» Qua allegedly said when questioned about whether she and Soh were involved in «improper trading» in Hokkien. «My house is full of lawyers».
«Audacious, Extensive and Injurious»
Prosecutors called the scheme «the most audacious, extensive and injurious market manipulation scheme ever in Singapore» and have slapped 189 charges on Soh and 178 charges on Quah.
Former CEO of construction firm Ipco and the third defendant, Goh Hin Calm, was already sentenced to 36 months of imprisonment after pleading guilty to two out of six charges. The other four charges are still being considered.
Manipulation allegedly occurred between August 2012 and October 2012 involving small-cap stocks Blumont Group, former Asiasons Capital (now known as Atilan Group) and LionGold Corp.
