Malaysian Syndicate involved in manipulation of penny stock busted....

[TopSage]

I heard about this 2 months ago and was warned not to touch these 3 stocks Blumont, Liongold and Asiasons.
All 3 stocks have collapsed today and are now suspended.

"Pursuant to SGX-ST Rule 8.10, SGX-ST has exercised its authority to temporarily suspend trading in the shares of Asiasons Capital Ltd with immediate effect. This is to safeguard the interests of the market as there could be circumstances that would result in the market not being fully informed."

Market talk is all 3 stocks were manipulated by a syndicate that previously manipulated stocks on CLOB.
Ring leader is believed to the infamous Soh Chee Wen, a former T-shirt seller who became a master operator
adept at manipulating the prices of worthless stocks.

If you had invested in $10K in one of these manipulated stocks 1 year ago, the position would have been worth more than $1M yesterday.
But today, it is worth zero after the suspension. Like they say easy come easy go.

 

[po2wq]

y din u post here 2 mths ago? ...

wat other stoks not 2 touch? ...

 

[TopSage]

y din u post here 2 mths ago? ...

wat other stoks not 2 touch? ...

If I posted this information 2 months ago..
.what do you think the syndicate will do to me?
Besides it was hear say so I
Din know whether it was true until today... this is still ahead of the news as there are no reports yet on the papers

 

[TopSage]

Goodness, starting to hear stories about victims of this fraudulent
scheme The syndicate was drumming up interest for these stocks by
taking over small worthless mines in Austdlai and other places.

Here from one broker was called up by clients in tears losing their whole life savings to
the scam. Hope they put the whole syndicate in jail for a long time.
It is ridiculous that these things keep recurring ....the sgx fines people over small violations like shorting a stock just a we lots by mistake .....but this type of massive fraud happen from right under their nose....about $5B was wiped out on Friday and another $5B later because these stocks are basically worthless.

SGX did nothing until SIAS made a move.

What is long overdue is separate regulator like the SEC to watch and detect fraud in the market. Looking at the large and varied cases handled by the SEC it tells us MAS is doing too little and
letting all sorts of things happen. SGX has very little interest to catch pple for fraud', what they do is compliance.

The PAP deregulated the markets increasing the risks but did not put watchdog in place. They simply wait for things to get serious and dangerous...and they act too late. What are Malaysian syndicates doing in Singapore? They found it easy to conduct scams compared with back home, that is the only reason why they are here. ...same reason as those s chips

 

[po2wq]

... SGX did nothing until SIAS made a move.

What is long overdue is separate regulator like the SEC to watch and detect fraud in the market. Looking at the large and varied cases handled by the SEC it tells us MAS is doing too little and letting all sorts of things happen ...

u get plenty of dese wif ah loon in gahmen ... make moni 4 own pocket can oredi, evryting else f**k care ...

dey wil tel u it has oredi happened ... dey lack 4site ...

u retailers die is ur own biz ... u went in wif their i's open ...

 

[po2wq]

... Market talk is all 3 stocks were manipulated by a syndicate that previously manipulated stocks on CLOB.
Ring leader is believed to the infamous Soh Chee Wen, a former T-shirt seller who became a master operator
adept at manipulating the prices of worthless stocks ...

tis ah wen fella is in same crass as bill gates n steve jobs ... ie. univ dropout ...

he last time oso coz msian coys 2 collapse ... n den he ran road ...

 

[johnny333]

u get plenty of dese wif ah loon in gahmen ... make moni 4 own pocket can oredi, evryting else f**k care ......

Looks like nothing has changed since the CLOB fiasco. Pinky said this & said that,... but many Sporeans lost money.