Prosecution applies for charges against ex-Airocean chief to be quashed

Mr Tay who had pleaded guilty in 2007 to the charges under the Securities and Futures Act, did not take steps to set aside his own conviction. But the prosecution on Friday applied to the High Court for his conviction to be quashed "in the interest of justice".

Fine to be refunded to Mr Thomas Tay following various rulings last year by then-chief justice Chan Sek Keong who acquitted three other former Airocean directors who appealed against their convictions.

Get the full story from The Straits Times.