K
Kiyomori Taira
Guest
Jan 8, 2011
Aspial boss cleared of insider trading
CAD probe ends with no action taken against chief executive
By Aaron Low
-- ST FILE PHOTO
THE chief executive of Singapore's largest jewellery chain Aspial Corporation, Mr Koh Wee Seng, has been cleared of insider trading allegations.
In a statement released on Friday, the company said Commercial Affairs Department (CAD) investigations against him have concluded, and that no action will be taken against him.
After concluding its investigations, the CAD returned all documents to Aspial and Mr Koh, it added.
On Friday, Mr Koh, 42, who is married with two children, said he was relieved that the investigations were over.
'It has been a challenging period for me and I am glad that I can now move on,' he said in a statement.
In December 2009, Aspial announced that Mr Koh was being probed for a possible infringement of Section 218 of the Securities and Futures Act, which deals with prohibited conduct by a 'connected person' holding inside information.
Read the full story in Saturday's edition of The Straits Times.
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