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Former fund manager Sun charged for acts like to defraud bond fund investors

The Edge Singapore Published on Thu, Oct 22, 2020 / 3:44 PM GMT+8

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A former fund manager Sun Weiyeh, was charge in court on Oct 22 under the Securities and Futures Act (SFA) for acts that were likely to defraud investors.

Sun was a director of One Asia Investment Partners (OAIP) from October 2014 to January 2017, whose license was revoked by the Monetary Authority of Singapore in April 2017.

He faces two charges under section 201(b) of the SFA for engaging in acts that were likely to defraud investors of a fund managed by OAIP.

Sun is accused of selling two bonds at lower than market prices from the fund to another OAIP fund when he knew that there were offers at higher prices for the bonds.