Former fund manager charged for acts likely to defraud investors
Singapore, 22 October 2020… Mr Sun Weiyeh, a former fund manager, was charged today under the Securities and Futures Act (SFA) for acts that were likely to defraud investors.
2 Mr Sun was a director of One Asia Investment Partners Pte. Ltd. (OAIP) from October 2014 to January 2017.
3 Mr Sun faces two charges under section 201(b) of the SFA for engaging in acts that were likely to defraud investors of a fund managed by OAIP. He is accused of selling two bonds at lower than market prices from the fund to another OAIP fund when he knew that there were offers at higher prices for the bonds.
4 The investigation was jointly conducted by MAS and the Commercial Affairs Department of the Singapore Police Force.
5 If convicted, for each charge of section 201(b) of the SFA, Mr Sun faces a fine of up to $250,000 or an imprisonment for a term of up to 7 years, or both.