Fine of 600 million, recover 9 billion from stock price manipulation case

The recovery of more than 9 billion from stock price manipulation is the largest figure ever in administrative sanctions in the securities sector.

The Securities Commission has just announced information on administrative sanctions in the field of securities and the securities market against Ms. Do Thi Cam Thuy.

Stock price list.

According to the Securities Commission, based on the inspection results of the State Securities Commission and the verification results of the police agency, Ms. Do Thi Cam Thuy (Nhan Chinh, Hanoi) performed the act of manipulating the shares of Spilit Stone Joint Stock Company (stock code: SPI) in violation of current regulations.

Specifically, Ms. Do Thi Cam Thuy opened 1 securities account and asked 15 individuals to open 28 securities accounts at 4 securities companies. During the period from September 1, 2015 to May 13, 2016, these 29 accounts continuously bought and sold, created fake supply and demand, and manipulated SPI shares.

Based on the verification results of the police agency on November 28, 2017, there is not enough basis to prosecute Ms. Do Thi Cam Thuy under Article 181c of the 1999 Penal Code (crime of securities manipulation). On December 26, 2017, the Securities Commission issued Decision No. 1204/QD-XPVPHC on administrative sanctions against Ms. Do Thi Cam Thuy.

Accordingly, Ms. Thuy was fined 600 million VND. The remedial measure is to force her to return the illegal profits gained from the violation of 9,281,500,050 VND according to the provisions of Point a, Clause 5, Article 29 of Decree No. 108/2013/ND-CP.

The decision takes effect from December 26, 2017.

The recovery of more than 9 billion VND from the above stock price manipulation is the largest figure ever for administrative sanctions in the stock market.

It is known that on September 1, 2015, SPI stock price was at 3,100 VND and on May 13, 2016, SPI stock price increased to 7,900 VND. Closing session on December 26, 2017, SPI stock price was at 3,900 VND/share.

According to statistics from the Securities Commission, as of December 6, 2017, this agency has issued about 300 decisions on administrative sanctions for violations in the field of securities and the securities market. The total amount collected is 18 billion VND, 1.5 times higher than the same period in 2016.

According to VnEconomy