Enforcement Actions
Published Date: 08 April 2021

Person charged for false trading and unauthorised use of trading accounts under the Securities and Futures Act

Singapore, 8 April 2021…Mr Goh Jia Poh, Kenneth was charged today for offences under the Securities and Futures Act (SFA).

2     Mr Goh is accused of trading in multiple securities listed on the Mainboard or the Catalist of the Singapore Exchange Securities Trading Ltd, for the purpose of creating a false appearance regarding the market for the securities. These trades took place between 6 January 2016 and 20 September 2018.

3     In the course of his conduct, Mr Goh used various trading accounts including four which did not belong to him, without duly notifying the relevant brokerages.

4     Mr Goh faces a total of six charges, comprising two amalgamated charges under section 197(1)(b) of the SFA for creating a false appearance with respect to the market for multiple securities and four charges under section 201(b) of the SFA for deceiving the relevant brokerages through the unauthorised use of trading accounts.

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

6     If convicted, Mr Goh faces imprisonment for a term which may extend to a maximum of 7 years, or a fine of up to $250,000, or both, for each charge under section 197(1)(b) SFA and section 201(b) SFA.