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Indonesian tycoon Kris Wiluan fined $480,000 after pleading guilty to 3 market rigging charges
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Kris Taenar Wiluan had been handed 112 charges in relation to violations of Section 197 of the Securities and Futures Act.
ST PHOTO: KELVIN CHNG
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SINGAPORE - Indonesian tycoon and former chief executive of offshore and marine company KS Energy Kris Taenar Wiluan was fined $480,000 after pleading guilty on Wednesday (May 19) to three charges of market rigging.
He had been handed 112 charges of violating Section 197 of the Securities and Futures Act for giving instructions to push up or maintain the price of KS Energy shares on 112 trading days between 19 December 2014 and 13 September 2016. However, these charges were later amended to six amalgamated charges covering the same period.
