List of 23 people banned from trading for lending accounts to manipulate GKM stock.

The Securities Commission has just announced a list of 23 individuals who lent their accounts for securities trading, leading to violations involving the manipulation of GKM shares.

Numerous stock manipulation cases have been exposed - Photo: QUANG DINH

The State Securities Commission has just issued a decision imposing administrative penalties on 23 individuals for lending their accounts for securities trading, leading to violations of securities market manipulation involving GKM shares.

This list of 23 investors includes: Nguyen Van Dao, Le Thi Nguyet, Nguyen Phi Diep, Nguyen Thi Yen, Hoang Van Hai, Hoang Truong Vinh, Nguyen Ngoc Hung, Nguyen Manh Thang, Nguyen Quang Huy, Do Quang Trung, Pham Tien Dat, Nguyen Thi My Hanh;

Nguyen Thi Thu, Pham Ngoc Thuyet, Pham Thi Cam Van, Hoang Van Minh, Nguyen Van Tung, Vu Thi Nhung, Nguyen Thi Huyen, Nguyen Thi Giang, Le Trong Long, Nguyen Thi Thuy Hang, Pham Si Giang.

According to the Securities Commission, all 23 individuals lent their accounts to Mr. Nguyen Viet Ha to manipulate the price of GKM shares during the period from August 2, 2021 to January 28, 2022.

Based on the results of inspections and monitoring, the Securities Commission stated that there is no basis to suggest that the 23 individuals mentioned above gained any illegal profit from the violations.

However, preventive measures must still be applied to deter violations of securities and securities market laws against the 23 individuals mentioned above.

Accordingly, the aforementioned individuals are prohibited from trading securities for a period of two years starting from November 14, 2024.

These investors are also prohibited from holding positions at securities companies, securities fund management companies, branches of foreign securities companies and fund management companies in Vietnam, and securities investment companies for a period of 2 years.

Previously, the State Securities Commission also issued Decision No. 1210, signed on December 21, 2023, regarding administrative sanctions against Mr. Nguyen Viet Ha (Ba Dinh District, Hanoi ) for manipulating the stock market.

Specifically for the aforementioned offense, this individual must pay a fine of 1.5 billion VND and is banned from trading securities for a period of 2 years, starting from October 9, 2023.

Stock manipulation without profit

According to the State Securities Commission, from August 2, 2021 to January 28, 2022, Mr. Nguyen Viet Ha used 23 accounts to continuously buy, sell, and trade GKM shares of Khang Minh Group Joint Stock Company in order to create artificial supply and demand and manipulate prices.

However, the results of the investigation and calculations show that Mr. Nguyen Viet Ha did not obtain any illegal income from this activity.

Source: https://tuoitre.vn/danh-list-23-people-banned-from-trading-for-lending-accounts-that-once-shared-gkm-stocks-20241115214724186.htm