Landmark penalty for market manipulator

Apr 9, 2014

A two-year jail sentence and RM3 million fine against Philip Wong were upheld yesterday in Malaysia, setting a new benchmark for penalising market manipulators, says the securities regulator.

Malaysia's High Court yesterday dismissed an appeal against a RM3 million ($930,000) fine and two-year jail term, setting “a new benchmark for imprisonment of market manipulators”, says the securities regulator.

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