Four individuals were fined VND6 billion for manipulating PHS shares of Nam Song Hau Petroleum.

ANTD.VN - The State Securities Commission (SSC) has just issued a decision to impose administrative penalties on four individuals for stock market manipulation. The total fine is up to VND6 billion.

Specifically, the individuals fined include: Mr. Mai Huu Phuc (HCMC), Ms. Vo Nhu Thao (Can Tho), Ms. Do Thuy Tien (Can Tho), Mr. Tran Minh Hoang ( Hanoi ). Each individual was fined 1.5 billion VND; the total fine for these individuals is 6 billion VND.

Through the results of inspection and supervision, the State Securities Commission said: During the period from February 1, 2021 to May 27, 2022, Mr. Mai Huu Phuc, Ms. Vo Nhu Thao, Ms. Do Thuy Tien and Mr. Tran Minh Hoang used 26 accounts in the names of 15 investors to continuously buy and sell PSH shares of Nam Song Hau Petroleum Investment Trading Joint Stock Company.

Four individuals used multiple accounts to manipulate NSH shares of Nam Song Hau Petroleum in the period of 2021 - 2022

Group of 26 accounts participated in 135/140 trading sessions in the period from February 1, 2021 to August 25, 2021; placed 12,860 buy orders with a total volume of more than 91.5 million shares, accounting for 64.5% of the total market, the matched buy volume was nearly 67 million shares, accounting for 67.2% of the total market.

At the same time, 7,587 sell orders were placed with a total volume of more than 109.7 million shares, accounting for 60.4% of the total market, and the matched sell volume was 74.76 million shares, accounting for 75.1% of the total market.

Of which: 97/134 sessions have a buy order ratio of over 70%, 98/134 sessions have a buy matched ratio of over 70%; 87/135 sessions have a sell order ratio of over 70%, 108/133 sessions have a sell matched ratio of over 70%.

Participating in 81/186 trading sessions between August 26, 2021 and May 27, 2022, these accounts tended to sell with a net selling volume of more than 15 million shares;

Of which, 1,584 buy orders were placed with a total volume of nearly 15 million shares, accounting for 3.1% of the total market, the matched buy volume was more than 9.5 million shares, accounting for 3.9% of the total market;

Placed 1,090 sell orders with a total volume of 37 million shares, accounting for 7.5% of the total market, matched sell volume was 24.8 million shares, accounting for 10.1% of the total market.

Intra-group matching in 157/371 trading sessions (of which 133/157 sessions were in the period from February 1, 2021 to August 25, 2021) with a total matching volume of more than 55 million, the corresponding matching value reached more than VND 1,310 billion.

On the negotiated trading system, a group of 26 accounts conducted intra-group negotiated transactions with a volume of 5,607,300 PSH shares, the total intra-group matching value was more than 91 billion VND.

Thus, from February 1, 2021 to May 27, 2022, Mr. Mai Huu Phuc, Ms. Vo Nhu Thao, Ms. Do Thuy Tien and Mr. Tran Minh Hoang used the above 26 accounts to continuously buy, sell and trade PSH shares between accounts with each other for the purpose of creating fake supply and demand, manipulating PSH stock prices, violating the provisions of Clause 3, Article 12 of the Law on Securities.

The results of the inspection and calculation of the illegal income obtained from the violations of the above individuals show that there is no illegal income.

Therefore, the State Securities Commission also issued a decision on applying preventive measures to stop violations of the law on securities and the securities market against the above-mentioned 04 individuals.

Specifically: Ban on securities transactions for a period of 02 years, starting from May 27, 2024 for 03 individuals including Mr. Mai Huu Phuc, Ms. Vo Nhu Thao and Ms. Do Thuy Tien.

Ban on securities transactions for a period of 03 years for Mr. Tran Minh Hoang.

Source: https://www.anninhthudo.vn/bon-ca-nhan-bi-phat-6-ty-dong-do-thao-tung-co-phieu-phs-cua-dau-khi-nam-song-hau-post577969.antd