http://www.straitstimes.com/business/companies-markets/jades-ex-president-jailed-and-fined-over-sham-takeover-bid

Related: (1) The trouble with non-binding takeover offers that create a false and manipulated ceiling for the target company’s shares which could be pledged or faced margin calls; There are numerous examples of where such buyouts have ended in tatters and some investors getting burnt; (2) China Cord Blood Corp (NYSE: CO) and Golden Meditech (801 HK): Accounting Facts and Footnotes; (3) Taiwan’s MOF asks banks for details of Chinese loans to two troubled Chinese companies – Frankfurt-listed Chinese shoe company Ultrasonic AG whose executives disappeared with the loan and Golden Meditech (801 HK); TSU raises question of insider trading in Golden Meditech TDRs; FSC boss quizzed on Lien’s Golden Meditech TDRs; (4) 脐带血功效被夸大 中源协和 (Zhongyuan Union Cell & Gene: 600645 CH) 核心业务受困; 胎盘脐带血自费存储乱象; 脐带血：是生命种子，还是炒作噱头？“变了味”的脐带血; 脐带血保存，一场骗局? 血疑——上海市脐血库事件调查; Inside the Private Umbilical Cord Blood Banking Business: Wall Street Journal Analysis Found Dirty Storage, Leaky Blood Samples and Firms Going Under

Jade’s ex-president jailed and fined over sham takeover bid

Soh made a takeover offer for Jade Technologies in a bid to push up its share price.ST FILE PHOTO

5 HOURS AGO

Chong Koh Ping

The former president of Jade Technologies was sentenced yesterday to eight years and nine months’ jail and fined $50,000 for offences connected to his botched takeover bid for the company in 2008. Anthony Soh Guan Cheow, a doctor-turned-businessman, was convicted of 39 charges, including market rigging and insider trading as well as two charges of giving false reports to the Singapore Exchange and Securities Industry Council. He was given two years and six months’ jail for market rigging and jail terms ranging from six months to two years and six months for seven counts of insider trading. The sentences are the highest imposed for such offences in Singapore. This is also the first time a person has been convicted and sentenced under Section 140 of the Securities and Futures Act for making a takeover bid when he could not fulfil the obligations in the transaction. Continue reading →

http://news.asiaone.com/news/crime/ex-boss-gets-jail-term-cheating#xtor=cs3-18

Ex-boss gets jail term for cheating

The former boss of Singapore-listed magazine publisher and property development firm Eastern Holdings was sentenced to four years in jail yesterday for cheating. Stephen Tay Thian Boon, 57, will also be barred from acting as a director in Singapore for five years after his release. Continue reading →

http://www.businessinsider.sg/criminals-are-manipulating-the-stock-market-and-regulators-cant-seem-to-stop-it-2015-8/#.Vca_NvmqpBc

Criminals are manipulating the stock market and regulators can’t seem to stop it

JONATHAN MARINO FINANCE  AUG. 9, 2015, 5:39 AM

The SEC has gone from tracking illicit traders from chat rooms to an international game of cat-and-mouse. Sometimes the crooks keep one step ahead of regulators.

On May 14 a Bulgarian stock schemer is alleged to have moved the share price of consumer company Avon Products by making a false filing to the Securities and Exchange Commission. Three months later, nothing is stopping someone else from doing the very same thing. The Securities and Exchange Commission says it’s not making changes to its Edgar filing system. A spokeswoman for the SEC told Business Insider: “Filers are responsible for the accuracy of their filings and as demonstrated face enforcement actions for false filings.” The SEC didn’t answer questions about taking further steps to prevent fraudulent filings.  Continue reading →

http://ftalphaville.ft.com/2015/08/10/2137006/pwcs-great-noble-group-disclaimer/

PwC’s great Noble Group disclaimer

Izabella Kaminska

| Aug 10 18:52 | 4 comments | Share

So, PwC’s review of Noble Group’s accounting and management practices — commissioned by Noble Group and released on Monday — puts the commodity trader firmly in the clear with regards to the way the company records profits on long-term sales and marketing deals. It is, at the very least, consistent with industry practice. But for posterity’s sake we thought we’d stick up the sizeable PwC disclaimer list that precedes the actual findings. The FT’s Neil Hume and David Sheppard further draw attention to the fact that the commodity dealer is to cut 16 per cent of its staff and seek asset sales or new financing deals as it continues to face difficult trading conditions. There are also reports emerging of Noble approaching a prominent dealmaker Michael Klein to review its options.