SINGAPORE’S High Court today convicted businessman John Soh Chee Wen and his girlfriend, Quah Su-Ling, as masterminds of the republic’s most serious case of market manipulation that wiped out more than S$8 billion (RM25 billion) from its stock market in October 2013.

According to The Straits Times, High Court judge Hoo Sheau Peng found Soh guilty on 180 market manipulation, cheating and witness tampering charges and a majority of deception charges.

Soh, 62, has been in remand since November 2016 and faced 188 charges.

Quah, 57, was found guilty on 169 market manipulation and cheating charges and a majority of deception charges.

The former chief executive of Ipco, who faced 177 charges, is out on a S$4 million bail.

Both were acquitted of eight deception charges.

They will be sentenced at a later date. – May 5, 2022.