In 1988, Allan Ng was charged with insider trading for causing FCI on 8 October 1986 to purchase 1 million shares in Sealion, (later renamed as First Capital Corporation Limited) while having prior knowledge that Sealion had requested the Stock Exchange of Singapore to lift the suspension of trading of its shares.
Allan Ng was brought to trial in 1988 for his role in triggering FCI on October 8, 1986, which led to him purchasing 1 million shares in Sealion before learning that the company had asked the Stock Exchange of Singapore to lift its trading ban.