GLGT Malaysian FT spoofed Singapore stock market

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GLGT Malaysian FT spoofed Singapore stock market

Today, 06:44 AM	#1
Great Supremacy Member     Join Date: Jan 2006 Posts: 57,861	GLGT Malaysian FT spoofed Singapore stock market http://ift.tt/2mteCc4 A former trader at DBS Group Holdings Ltd’s brokerage unit on Friday was convicted by a Singapore court for spoofing the securities market in the city’s first such criminal case. Dennis Tey Thean Yang, 33, pleaded guilty to eight of the 23 charges he faced including his attempts to artificially move prices through fraudulent securities orders and misusing other people’s trading accounts without consent. Tey was a broker at DBS Vickers Securities (Singapore) Pte when he committed the offenses over four months in late 2012 and early 2013. He made a profit of S$30,239 ($21,310). ......... ............ Tey, a Malaysian national, left DBS Vickers in March 2014 and was arrested in May 2015. He will be sentenced on March 22. In a statement, DBS said it had zero tolerance for criminal behavior and cooperated with the probe into Tey’s activities. "We continue to be vigilant, and today, controls have been enhanced to mitigate against similar situations," it added. __________________ “Singaporeans get the government they deserve, so I don’t want to hear any complaints.”