, earning about S$365,000 in profit, was sentenced by a court on Monday .
Between January 2016 and September 2018, Goh repeatedly entered and deleted buy orders for multiple securities for which he had no intention to fill. The pair, who used pseudonyms in the chat groups, was highly active in the Penny chat. Goh was given the title of"Spotter" by the chat administrator as he was"good at spotting stocks" whose prices were likely to rise.
He used seven trading accounts to do this, with four of the accounts belonging to his retiree parents. His parents knew that Goh was using their accounts, but did not know what he was using them for. Goh kept all the profits made from the trades in his parents' accounts.In a statement on Monday, the Monetary Authority of Singapore said Goh's conviction was the result of a joint investigation by MAS and the Commercial Affairs Department of the Singapore Police Force.
Source: News Formal (newsformal.com)
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