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

The Securities Commission has just announced a list of 23 individuals who lent accounts to trade securities, leading to violations of GKM stock manipulation.

Many stock manipulation cases exposed - Photo: QUANG DINH

The State Securities Commission has just issued a decision to impose administrative penalties on 23 individuals who lent accounts to trade securities, leading to violations of stock market manipulation regarding GKM shares.

The 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 people lent their accounts to Mr. Nguyen Viet Ha to manipulate GKM stock prices between August 2, 2021 and January 28, 2022.

Based on the results of inspection and supervision, the Securities Commission said there is no basis to show that the 23 individuals mentioned above have any illegal profits from the violations.

However, it is still necessary to apply preventive measures to prevent violations of the law on securities and the securities market against the 23 individuals mentioned above.

Accordingly, the above individuals are banned from trading securities for a period of 2 years from November 14, 2024.

These investors are also 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 2 years.

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

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

Manipulating stocks 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 to create artificial supply and demand and manipulate prices.

However, through the results of the inspection and calculation, it was shown that Mr. Nguyen Viet Ha did not have any illegal income from this act.

Source: https://tuoitre.vn/danh-sach-23-nguoi-bi-cam-giao-dich-vi-cho-muon-tai-khoan-thao-tung-co-phieu-gkm-20241115214724186.htm