SEAFOOD restaurant operator No Signboard Holdings said on Thursday morning that its chief executive officer Sam Lim Yong Sim was arrested on April 30 and on bail, although he has not been charged with any offence.
The arrest was made on reasonable suspicion that Section 197 – False trading and market rigging transactions – as well as Section 218 – Prohibited conduct by connected person in possession of inside information – of the Securities and Futures Act may have been breached.
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