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Trader gets $100,000 penalty for false trading with 'wash trades'

THE Monetary Authority of Singapore (MAS) has obtained a default judgement of $100,000 against Ong Beng Hock for false trading and market manipulation.

On Dec 29, 2006 and April 26, 2007, Mr Ong executed a total of 12 wash trades in two of his trading accounts. These were purchases and sales of shares...

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