Enforcement Actions
Published Date: 25 February 2020

Former Director charged for offences under the Securities and Futures Act and Penal Code

Singapore, 25 February 2020… Mr Wong Leon Keat (Mr Wong), a former director of Natural Cool Holdings Limited, a company listed on Catalist of the Singapore Exchange-Securities Trading Limited, was charged today for offences under the Securities and Futures Act (SFA) and Penal Code (PC). 

2          Mr Wong faces 17 charges under section 197(1)(b) SFA for creating misleading appearances with respect to the price of the shares issued by Gaylin Holdings Limited (Gaylin) on 17 occasions between 11 November 2015 and 25 October 2016.  Mr Wong also faces one charge under section 201(b) SFA for deceiving UOB Kay Hian Private Limited (UOBKH), by not disclosing his beneficial interest in fifty percent of the Gaylin shares bought using an UOBKH trading account belonging to another individual, and one charge under section 182 PC for furnishing false information to a public servant during investigation. 

3          The investigation was jointly conducted by the Monetary Authority of Singapore and the Commercial Affairs Department of the Singapore Police Force.

4          If convicted, Mr Wong faces the following punishment:

a.         For each charge under section 197 SFA and section 201 SFA, imprisonment for a term which may extend to a maximum of 7 years, or a fine of up to $250,000, or both; and

 

b.         For each charge of giving false information to a public servant under section 182 PC, imprisonment for a term which may extend to a maximum of one year, or a fine up to $5,000, or both.Under the version of section 182 of the Penal Code in force at the time of the offence.