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A former remisier, who made unauthorised trades on two clients' securities accounts which resulted in losses of about $95,000, was jailed for 18 weeks yesterday.
Allan Chua Choen Beng, 52, was employed by DBS Vickers (DBSV) when he deceived his employer into believing that the trades he made on behalf of Mr Goh Gek Chye from around May 24 to June 17, 2004 were authorised transactions.
As a result of his acts, Mr Goh and DBSV suffered losses amounting to $76,503. A second similar charge, involving another person and losses of $18,178, was taken into consideration in sentencing.
- See more at: http://business.asiaone.com/news/fo...eeks-over-illegal-trades#sthash.XJXpVY8B.dpuf
Allan Chua Choen Beng, 52, was employed by DBS Vickers (DBSV) when he deceived his employer into believing that the trades he made on behalf of Mr Goh Gek Chye from around May 24 to June 17, 2004 were authorised transactions.
As a result of his acts, Mr Goh and DBSV suffered losses amounting to $76,503. A second similar charge, involving another person and losses of $18,178, was taken into consideration in sentencing.
- See more at: http://business.asiaone.com/news/fo...eeks-over-illegal-trades#sthash.XJXpVY8B.dpuf
