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Others - Do not post any false info !!! Post Reply Rate topic
m2d4pc Member	22-Nov-2006 17:25        m2d4pc About Contact  Quote this Post!
x 0   x 0  Alert Admin	from Wang's case, can I confirm that there is no way to charge people from posting false info in internet porters as long as he/she can prove that he/she does not benefits from the posting ? Then just ask a young school boy to post on our behalf lor.
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m2d4pc Member	22-Nov-2006 17:20        m2d4pc About Contact  Quote this Post!
x 0   x 0  Alert Admin	pity those unfortunate victims that believe him.
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zhuge_liang Supreme	22-Nov-2006 17:13        zhuge_liang About Contact  Quote this Post!
x 0   x 0  Alert Admin	He went by the nickname of "Zhongkui" on SI. Hope the same thing doesn't happen on SJ.
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tanglinboy Elite	22-Nov-2006 14:06        tanglinboy About Contact  Quote this Post! Style: Combined   Mood: Yells: "hello!"
x 0   x 0  Alert Admin	Generally I find that the forummers on SJ are more matured and disciplined than other forums I go to.
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BULLBEAR Member	22-Nov-2006 10:02        BULLBEAR About Contact  Quote this Post!
x 0   x 0  Alert Admin	The full one in Business Times goes like this: Man cleared of posting false info on Datacraft False rumour on Internet about CAD raid had sent shares diving in 2004 By WONG WEI KONG Email this article Print article Feedback A MAN accused of posting false information on the Internet about a police raid on a locally listed IT company in 2004 was acquitted yesterday after the prosecution was unable to show that he did not care that the information was false. Able Wang Ziyi, 41, was charged earlier this year with one count of using shareinvestor.com - an Internet forum popular with stockmarket investors - to spread a rumour on Feb 16, 2004 that the Commercial Affairs Department (CAD) had raided the offices of systems integrator Datacraft Asia. Shares in Datacraft slid as much as 8 per cent on the rumour of the CAD raid as well as speculation that the company would announce a massive loss for the first quarter of financial year 2004. Datacraft issued a statement on the same day to deny the rumours. The case was heard in the District Court in the first week of November this year. Delivering judgment yesterday, District Judge Francis Tseng said that for the charge to stand, the prosecution had to prove four things: there was dissemination; the information was false; the rumour induced others to sell the shares; and Mr Wang did not care that it was untrue. While the first three requirements were satisfied, the judge ruled that Mr Wang's actions did not show that he did not care that the information he spread was false. It was revealed during the hearing that Mr Wang had received an SMS about a CAD raid on Datacraft on Feb 13, 2004 from Sam Wong, a stockbroker with OCBC Securities. Mr Wang then sold all his 700,000 Datacraft shares, suffering a loss of more than $200,000. On Feb 16, 2004 - the day he posted the rumour on the Internet - Mr Wang also short-sold 111,000 Datacraft shares but bought back 61,000 shares immediately to cover his short position, without waiting to see the effect of the dissemination of the rumour. This showed that Mr Wang's act of posting the rumour on the Internet was separate from his trading in Datacraft shares, which suggested he had no intention to benefit from the posting, the court noted. Mr Wang, who was represented by Philip Fong of law firm Harry Elias, could have faced a fine of $250,000, or up to seven years in jail or both, had he been convicted. 'He is relieved that it is all over and he can now get on with his life,' Mr Fong said. 'Irrespective of the outcome of the prosecution, it is a valuable lesson to everyone that if you make a posting on the Internet, and that turns out to be false, you could face prosecution. You have to bear responsibility for what you post,' he said.
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knightrider Elite	22-Nov-2006 09:46        knightrider About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	The news stated 22/11/2006 Straits Times - Money : I just summarised a bit ! Trader Cleared of posting false data online on Datacraft Asia Mr. XXX  was charged with spreading false info about Datacraft Asia. He could be jail for up to 7 years and fine up to S$250,000 over incident if found guilty. The lawyer of Mr. XXX defended :"This incident provides a valuable lesson to anyone who wishes to post rumours on a public forum in case the rumours turn out to be unsubstantiated. The person will have a burden of proving that he believed the information to be true and he cared whether it was true or false." The actual incident in 2004 was Mr. XXX post a rumour that Datacraft offices had been raided by the CAD, the police white-collar crime unit. This comment was posted on investment portal shareinvestor.com. In Mar 2006, Mr. XXX was charged under Section 199 of the Securities and Futures Act (SFA) with spreading false information. Just for your viewing and remind ourselves that what we posted here, we must take responsible !!!
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IreneL Senior	22-Nov-2006 09:29        IreneL About Contact  Quote this Post!
x 0   x 0  Alert Admin	Hi knightrider I've not read the ST yet.  But its good of you to paraphase the news report of rumour spreading.  Agree that the first rule of thumb in an investment forum is for everyone to participate, share our information and make money, and spreading rumour purporting to a particular company should not and cannot be condone.
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knightrider Elite	22-Nov-2006 09:20        knightrider About Contact  Quote this Post!   Mood:
x 0   x 0  Alert Admin	Hi, Read to day Straits Times, please do not post any false info or rumours to hurt or malice intention to affect the particular Listed Companies. If the company heard about your comment on a forum which is untruth and it hurt or affect their stock price, they will press charges and lawsuit for illegal spreading rumour that can cause their share price to decline. So be very careful when posting your comment for discussion. Please do not spread rumours. Please remember it is not correct or basic investment rule to hurt any minor group of investors for self-gain. Our main objectives is to make money and share our coment so that more investor can gain to make profit in a legal way or means. Good Luck.
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