Using 75 accounts to "manipulate" stock prices, an individual was fined 1.5 billion VND

11/11/2023 09:45 Nhat Linh Print article

ANTD.VN - An individual was fined 1.5 billion VND and banned from securities trading for 2 years for using his own securities account and 75 accounts of 21 investors to manipulate shares of First Real Estate Joint Stock Company (FIR).

Based on the results of supervision and inspection, the State Securities Commission (SSC) has issued a decision to impose an administrative penalty on Mr. Nguyen Huu Duc (address: No. 30 Thanh Luong 9, Hoa Xuan Ward, Cam Le District, Da Nang City).

Accordingly, Mr. Duc was fined 1.5 billion VND for violating stock market manipulation.

Many investors were heavily fined for stock manipulation.

Specifically, from January 4, 2022 to June 17, 2022, Mr. Nguyen Huu Duc used his own securities account and 75 accounts of 21 investors to continuously buy, sell, and trade shares of First Real Estate Joint Stock Company (stock code FIR) to create fake supply and demand, manipulating the price of this stock.

The State Securities Commission also said that the results of the inspection and calculation of illegal income obtained from Mr. Nguyen Huu Duc's violations showed that there was no illegal income.

In addition, the State Securities Commission also issued a decision on applying preventive measures to stop violations of securities and securities market laws against Mr. Nguyen Huu Duc.

Accordingly, this individual is banned from trading securities for a period of 02 years, starting from November 8, 2023; banned from holding positions at securities companies, securities investment fund management companies, branches of foreign securities companies and fund management companies in Vietnam, and securities investment companies, for a period of 02 years, starting from November 8, 2023.

Source link: https://www.anninhthudo.vn/su-dung-75-tai-khoan-de-lam-gia-co-phieu-mot-ca-nhan-bi-phat-15-ty-dong-post557576.antd