00:00Singapore's Court of Appeal has dismissed the appeal by Malaysian businessman John Sof and
00:05co-conspirator Khoa Su Ling for reduced jail terms following their conviction for masterminding the
00:11republic's largest stock market manipulation four years ago. The republic's top court affirmed the
00:16jail terms of 36 and 20 years respectively for So and Khoa, citing the scale, sophistication,
00:23and market impact of their offenses, the Singapore Edge reported. So and Khoa were
00:28sentenced in 2022 after they were convicted of manipulating the share prices of Blumont Group,
00:33Asia Suns Capital, and Lion Gold Corp between August 2012 and October 2013. Their actions wiped out
00:40nearly 8 billion Singaporean dollars off the market's capitalization. So was convicted on 180
00:45charges including market manipulation, false trading, deception, cheating, and tampering,
00:51while Khoa was convicted on 169 charges. In rejecting their bid for a shorter jail term,
00:57a three-judge bench comprising Chief Justice Sundares Menon and Justices Taeyoung Kwong and Andrew Thang
01:03endorsed the High Court's earlier findings that the scheme was not only deliberate
01:07but highly coordinated, but highly coordinated. Dhanushar Jareza, FMT.
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