Singapore News

News from Singapore

Former trader found guilty

Posted by jtsmyth8 on November 29, 2007

High Court has found a former stock trader guilty of posting false, price sensitive information on the Internet about listed company Datacraft Asia.Able Wang Ziyi, 42, now faces a possible jail term of up to seven years and a fine of $250,000 when his sentence is passed in January.

The High Court overturned last year’s acquittal of Wang, who had posted a claim that Datacraft’s office was raided by police in 2004.

In his ruling on Thursday, Judge VK Rajah said stock traders should be responsible for what they post on the Internet because if the rumour turns out to be false or unsubstantiated, they could face prosecution. (story)


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