/>
X

Man fined for posting fake investor note

SINGAPORE--The ex-securities dealer who posted a fraudulent news release on the Internet that said Singapore Exchange-listed Venture Manufacturing was being taken over was fined nearly $44,000.Kenneth Chan Yen Yau had doctored an earlier news release by U.
zdnet-logo-large.png
Written by ZDNet Editors on
SINGAPORE--The ex-securities dealer who posted a fraudulent news release on the Internet that said Singapore Exchange-listed Venture Manufacturing was being taken over was fined nearly $44,000.

Kenneth Chan Yen Yau had doctored an earlier news release by U.S.-based Celestica, saying it was taking over Venture, a locally based contract manufacturer. This came after Celestica's earlier purchase of Omni Industries, another local contract manufacturer.

The fake announcement sent Venture's price up 33 cents to $6.84, more than a 5 percent increase from the previous day's close. Venture informed ShareInvestor of the false posting and it was taken down about 30 minutes after it was originally posted. --Susan Tsang, Special to ZDNet News

Related

A United Airlines pilot made a big speech to passengers. Not everyone will love it
screen-shot-2022-08-09-at-9-39-33-am.png

A United Airlines pilot made a big speech to passengers. Not everyone will love it

Business
Dear American Airlines customers, your pilot today is a United Airlines trainee
gettyimages-1155904758-american-airlines-dreamliner2.jpg

Dear American Airlines customers, your pilot today is a United Airlines trainee

Business
An Apple employee told me the truth about the M2 MacBook Air (that was the problem)
screen-shot-2022-08-09-at-4-14-46-pm.png

An Apple employee told me the truth about the M2 MacBook Air (that was the problem)

Apple