Ex-DBS trader charged for spoofing securities market

He pleaded guilty to eight of 23 charges against him.

According to a report from Bloomberg, a former trader at DBS Group Holdings Ltd’s brokerage unit on Friday was convicted by a Singapore court for spoofing the securities market in the first case brought jointly by the country’s regulator and white-collar crime police.

Dennis Tey Thean Yang, 33, pleaded guilty to eight of the 23 charges he faced related to his attempt to artificially move prices through fraudulent securities orders. A broker at DBS Vickers Securities (Singapore) Pte when the offenses were committed in late 2012 and 2013, Tey was also charged with misusing other people’s trading accounts without consent.

Read the rest of the story here. https://www.bloomberg.com/news/articles/2017-03-10/singapore-regulator-secures-first-market-spoofing-admission