SINGAPORE (May 10): A witness in the trial of the alleged masterminds behind the 2013 penny stock crash has denied knowledge of manipulation in trading accounts linked to the scandal.

Esther Seet, executive director of Lim & Tan Securities, told Justice Hoo Sheau Peng that her brokerage firm would have closed the accounts immediately, had they known about it. “They would proceed to close the account and report it to the authorities,” she said.

During examination-in-chief by deputy public prosecutor Randeep Singh, Seet added that there was no way the brokerage firm could have known at the time that the remisier in charge of those accounts, Andy Lee Chee Wee, was taking...(click on link for full story on theedgesingapore.com)