He also faces one charge under section 201(b) SFA for deceiving UOB Kay Hian by not disclosing his beneficial interest in 50% of the Gaylin shares bought using an UOBKH trading account belonging to another individual.
Wong faces a further charge under section 182 PC for furnishing false information to a public servant during the investigation.
If convicted, Wong faces a jail term of up to seven years, and, or a fine of up to $250,000 for the share manipulation charges. He faces up to a year’s jail, an or fine of up to $5,000, for giving false information.
Singapore authorities have been investigating and prosecuting a spate of financial crimes.
On Feb 19, two remsiers, Steven Teo Boon Cheang, and Rayson Goh Qi Rui, were sentenced to three and four months’ jail respectively for their roles in manipulating shares of Koyo International over a 17-month period between 2014 and 2016.
Andrew Lin, the alleged ringleader, is facing charges, and the case pending, as are five other individuals.
Meanwhile, the long-running trial of John Soh Chee Wen and Quah Su-Ling, alleged masterminds of the October 2013 penny stock saga, are still on-going.
