Former CGS-CIMB broker jailed for manipulating Koyo shares

Singapore

A FORMER CGS-CIMB Securities employee will do jail time for her involvement in manipulating trading in the shares of Catalist-listed Koyo International between August 2014 and January 2016.

Lau Wan Heng, 62, was sentenced to 20 months' imprisonment for one count of engaging in a course of conduct which she knew would be likely to create a false or misleading impression of active trading in the shares under Section 197(1A)(a) of the Securities and Futures Act (SFA).

She was also found guilty on 12 counts of unauthorised trading under section 201(b) of the SFA, for which she was handed another 18 weeks' jail. Some of these sentences will run consecutively, an…

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