Singapore's penny stock crash masterminds convicted: How the saga wiped out $8 billion

(From left) John Soh Chee Wen, Quah Su-Ling and Goh Hin Calm. PHOTOS: ST FILE, KEVIN LIM
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SINGAPORE - After 194 days of trial over the past three years, the Singapore High Court on Thursday (May 5) found penny-stock saga masterminds John Soh and Quah Su-Ling guilty of a whopping 349 charges, nearly all involving market manipulation, deception and cheating.

Soh was found to have conspired with his girlfriend Quah to manipulate the share prices of penny stocks Blumont Group, Asiasons Capital and LionGold Corp through a web of 187 trading accounts held with 20 financial institutions and 58 individuals and companies.

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