Using 23 accounts to manipulate stocks, one person was fined more than half a billion VND

The inspection results of the State Securities Commission (for the stock trading activities of Sao Thang Long Investment Joint Stock Company) and the verification results of the competent authorities show that from February 24, 2020 to October 1, 2020, Mr. Giang Tuan Anh used 1 of his securities accounts and 22 securities accounts of other investors to trade DST shares with the purpose of creating liquidity and artificial supply and demand, manipulating DST stock prices.

Verification results by the authorities show that Mr. Giang Tuan Anh's act of manipulating DST stock prices did not generate any illegal profits.

Closing the trading session on April 17, DST shares fell to 3,500 VND/unit, down more than 12.5% over the past year, and have plummeted 86% since listing.

Sao Thang Long Investment Joint Stock Company, formerly Nam Dinh Books and Educational Equipment Joint Stock Company, was established in 2004 and listed on the Hanoi Stock Exchange (HNX) since 2007. In January 2018, the company restructured and changed its name to Sao Thang Long Investment Joint Stock Company, operating under a group model with member and affiliated companies.

The State Securities Commission has also just announced a decision to fine Construction and Industrial Equipment Group Corporation (CEG) VND 65 million for late disclosure of information on the following documents: Audited financial statements of the parent company and consolidated financial statements for 2021; annual reports for 2021 and 2022; corporate governance reports for 2021 and 2023; and written explanation of the audit company's refusal to provide its opinion in the audit report on the 2022 financial statements.

CEG, formerly known as Construction and Industrial Equipment JSC, was established in 1999 on the basis of equitization of the Construction Equipment Manufacturing Enterprise under the Construction and Materials Trading Company. The company operates mainly in the fields of research, manufacturing, and trading of construction machinery and equipment, industrial equipment, especially concrete mixers.

In addition to announcing the penalty decisions, the State Securities Commission also issued a warning about the provision of securities services in cyberspace.

Specifically, Vick Joint Stock Company (enterprise code 0316298093) has signs of providing securities investment consulting services without being licensed, managed, and supervised by the State Securities Commission according to the provisions of the law on securities (providing consulting services, securities investment consulting for customers on technology platforms including websites and mobile phone applications).

The Commission recommends that investors exercise caution when using the service and take responsibility for any risks that may arise.

(Source: Tien Phong)

Link: https://tienphong.vn/mot-nguoi-bi-phat-hon-nua-ty-dong-vi-thao-tung-co-phieu-post1629918.tpo

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