Muda central executive committee member Dian Lee hits back at the “baseless and defamatory” accusations over her involvement in Singapore's penny stock controversy.
According to the daughter of tycoon Lee Kim Yew, she and her husband Jared Lim were never implicated.
“I would like to make it unequivocally clear that the Singaporean authorities have never once reached out to my husband or me for clarification or questioning in the case throughout their 10-year investigation.
“The verdict handed down by the Singaporean High Court on May 5, 2022, clearly outlines the perpetrators and the masterminds behind the penny stock case. Neither my husband nor I were remotely implicated,” she said in a statement today.
She said this after PKR Students’ wing deputy chairperson Dharshinee Suresh Kumar urged her to clarify Clear Water Development Sdn Bhd's role in Blumont Group Ltd.
Dharshinee was referring to a tweet by Twitter account @FreeMsian, which shared an ownership structure chart created by The Edge.
$8 billion scandal, John Soh is convicted after 9 years since the scandal broke and for 6 years, he is held in Singapore jail with no bail. But do you know who lost the money in this scandal the most? Malaysians. pic.twitter.com/iDIPacMoc8
— FreeMalaysian (@FreeMsian) May 6, 2022
At the time of the scheme in 2013, Clear Water Development, controlled by Dian, was the second-largest shareholder in Blumont behind Neo Kim Hock, according to The Edge.
Asiasons Capital was controlled by Mohamed Azlan Hashim and Jared Lim, who is Lee's husband.
Insult and tarnish
“The claims by these parties that my husband and I were involved in and profited from the manipulations only serve to insult and tarnish the investigations of the Singaporean authorities and the verdict of the Singaporean judiciary system.
“My husband and I take these baseless accusations very seriously, and we will not tolerate nor hesitate to take the appropriate actions to protect ourselves against defamation,” she said in a statement today.
On Thursday, tycoon Soh Chee Wen and his partner Quah Su-Ling were convicted by the Singapore High Court for market manipulation and cheating offences involving an elaborate scheme to manipulate the share price of Blumont Group, Asiasons Capital Ltd and LionGold Corp Ltd.
Among the substantial shareholders in LionGold Corp was Md Wira Dani, the son of former finance minister Daim Zainuddin.
Following an investigation by Singapore's Commercial Affairs Department, no charges were brought against the shareholders.
Soh and Quah, however, were found guilty of 349 charges. They were accused of artificially inflating the share prices of the three companies through a network of 189 trading accounts held by 60 individuals and firms.
Their share prices eventually collapsed, wiping out S$8 billion in market value and burning retail investors. - Mkini
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