Former DBS trader sentenced to 4-month jail time

He earned S$30,239 from his spoofing.

A former trader at DBS Group Holdings Ltd.'s brokerage unit was sentenced to 16 weeks in jail after being convicted in Singapore’s first criminal spoofing case, reported Bloomberg.

"Dennis Tey Thean Yang, 33, was given the sentence on Wednesday. The former DBS Vickers Securities (Singapore) Pte broker had pleaded guilty to eight of 23 charges, including attempts to artificially move prices through fraudulent securities orders and misusing other people’s trading accounts without consent. He made a profit of S$30,239 ($21,572) from October 2012 to January 2013," said the report.

Spoofing involves entering fake orders to make people believe prices are poised to rise or fall.

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia