36 years' jail for mastermind of scheme that led to $8B penny stock crash in 2013
#61

(29-12-2022, 03:13 PM)K88 shu shu Wrote:  wah mdm Quah was a very attractive milf when young.

That’s why I bought IPCO in those days Big Grin

Nao she ish all dried up and wrinkled Sad

Wherever you go, no matter what the weather, always bring your own sunshine Big Grin
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#62

(29-12-2022, 04:37 PM)sgbuffett Wrote:  I wonder why Soh never had an exit plan.
This manipulation is complex involving tens of brokers banks etc. 

Unlike Jho Low who vanished ....Soh could have done the same. 

Even David Rasif could just vanish for a few million and never found.
Jho Low is now a fugitive, and all are looking for him.  It is no joy to be a fugitive, cos he needs to look over his shoulder always, and will not get good sleep at night...... Clapping Gesti-109
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#63

(29-12-2022, 09:01 PM)sgbuffett Wrote:  The purpose is not to cheat small time punters but banks.

The many accounts is to trade back and forth to keep the price high.

Once stock reaches a sky high price Soh goes to banks to use it as collateral to borrow ....he got $170M from Goldman 

By right once he corner the stock he can maintain it at high price is indefinitely.

The only way for it to collapse is for the banks to recall the loan...and sell the collateral.

Many in the market know this. They thought it will never collapse.

So everyday the punter go and buy the Blumont or LionGold in the morning by afternoon it will go up and they will sell it.

This was easy money ...even got one broker call me up to ask me to play this ...sure make everyday same pattern. But I check the past cornered stocks one fine day it just suddenly drop 50%.....so I stold him better not.

So many of these punters did their usual routine to buy in morning and sell in afternoon to make easy money. One day they buy in the morning and the stock collapsed in the afternoon the punter lose so much he cannot pay and the broker is wiped out.

In the first place how he can open so many accounts of course " using others trading accounts " ?
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