4 witnesses to take the stand at businessman’s committal hearing

4 witnesses to take the stand at businessman’s committal hearing

Today is the last day of Soh Chee Wen's committal hearing, following which the Singapore High Court will decide if there is basis for a full trial.

Free Malaysia Today
Businessman Soh Chee Wen faces 189 charges, including eight charges of witness tampering. (Bloomberg pic)
SINGAPORE:
Four more witnesses are expected to be called today, on the last day of the three-day committal hearing of Malaysian businessman Soh Chee Wen before the Singapore High Court decides if there is basis for a full trial.

Assistant registrar James Elisha Lee Han Leong is expected to make the decision later today.

The witness list sighted by Bernama included the names of a trader called Ken Tai, Jason Moo of Goldman Sachs, Gao Shihui Ester of Government Technology, and Sheryl Tan of the Commercial Affairs Department.

Only 13 witnesses will be cross-examined from a total of 67, nine of whom went through detailed questioning on the first two days of the hearing which began on Wednesday.

Among the witnesses called yesterday were two brokers with a global trading limit of S$65 million (S$1=RM3) and a “few hundred million” respectively, with thousands of clients under their care.

Soh, who has been on remand since the end of 2016 for commercial crime, has to answer 189 charges, including eight new charges of witness tampering which he faced in February last year.

As to the remaining 181 charges, he allegedly violated the Securities and Futures Act.

Soh’s charges are in relation to the collapse of the share prices of Asiasons Capital Ltd, Blumont Group Ltd and LionGold Corp in October 2013, which then spirally affected most penny stocks in the Singapore Exchange.

He is represented by N Sreenivasan, S Balamurugan and Jason Lim of Straits Law Practice, while the public prosecutors are Peter Koy, Teo Guan Siew and Lynn Tan.

Joining Soh in the court are IPCO International CEO Quah Su Ling and former IPCO interim CEO Goh Hin Calm, who are both alleged to have manipulated the three penny stocks.

Soh has been denied bail. Quah, who faces 178 charges, is out on bail of S$4 million while Goh, who faces six charges, is on bail of S$750,000.

The crash over three trading days in October 2013 cleared up S$8 billion in shareholder value from the Singapore Exchange.

 

3-day committal hearing for businessman in penny stock case

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