The Singapore Court of Appeal has upheld the landmark 36-year prison sentence for Mr. Soh Chee Wen (also known as John Soh) and 20-year sentence for Ms. Quah Su-Ling, the masterminds behind Singapore’s largest stock market manipulation case in history.

In a joint statement released on April 9, 2026, the Attorney-General’s Chambers, Singapore Police Force, and Monetary Authority of Singapore confirmed that the Court of Appeal dismissed all appeals against both convictions and sentences for orchestrating an elaborate scheme to manipulate shares of Blumont Group Ltd, Asiasons Capital Ltd, and LionGold Corp Ltd.

Historic Financial Crime Enforcement

The Singapore Court of Appeal delivered its final judgment on March 18, 2026, upholding the sentences originally handed down by the High Court after a comprehensive trial. Mr. Soh Chee Wen received 36 years imprisonment while Ms. Quah Su-Ling was sentenced to 20 years imprisonment for their roles in what authorities describe as the most extensive market manipulation scheme ever prosecuted in Singapore’s financial history.

Complex Web of Trading Accounts

According to court documents and the joint statement from Singapore authorities, Mr. Soh and Ms. Quah masterminded an elaborate scheme that utilized an extensive network of 187 trading accounts to artificially inflate market prices and manipulate trading volumes of three publicly listed companies.