One Asia Investment Partners' former managing director charged

Singapore

A 41-year-old former chief investment officer and managing director of the now-defunct fund manager One Asia Investment Partners (OAIP) was on Thursday charged with two counts of engaging in acts that were likely to defraud investors of a fixed income fund.

Singaporean Sun Weiyeh has been accused of selling the bonds of a company at lower prices to a securities dealer, and then repurchasing them at slightly higher prices. In doing so, he is alleged to have defrauded the investors of a fund managed by OAIP.