12 organizations and individuals were banned from trading for lending Mr. Do Thanh Nhan his account to manipulate stocks.

01/24/2024 07:58 Nhat Linh Print article

ANTD.VN - According to the penalty decision of the State Securities Commission, 12 organizations and individuals will be banned from securities trading for 2 years due to the act of lending accounts to Mr. Do Thanh Nhan in the securities manipulation case that occurred at Louis Holding.

The State Securities Commission (SSC) said that, based on the conclusion of the additional investigation of the criminal case by the police agency, the SSC has issued a decision to impose administrative sanctions on 12 organizations and individuals related to the stock manipulation case that occurred at Tri Viet Securities Joint Stock Company and Louis Holdings Company.

The reason is that these organizations and individuals have violated the law by lending their accounts to others to trade securities, leading to stock market manipulation. Specifically, these 12 organizations and individuals lent their accounts to Mr. Do Thanh Nhan to trade securities, leading to stock market manipulation for Mr. Do Thanh Nhan's stock codes BII and TGG.

Ông Đỗ Thành Nhân bị xử phạt 4 năm tù vì hành vi thao túng thị trường chứng khoán

Mr. Do Thanh Nhan was sentenced to 4 years in prison for stock market manipulation.

According to the decision of the State Securities Commission, the two organizations that were penalized include: Louis Holdings Joint Stock Company; The Golden Group Joint Stock Company (formerly known as Louis Capital Joint Stock Company).

Along with that are 10 other individuals, including; Ha Nguyen Uyen, Huynh Nguyen Huong Tra, Ngo Thi Hoai Thanh, Ngo Thi Hoai Thuong, Nguyen Thi Kieu Lien, Nguyen Thi Minh Hiep, Phan Thi Nga, Phan Thi Thanh Sen, Phan Thi Thuong, Le Quang Nhuan. The above individuals all have addresses in Ho Chi Minh City.

Regarding the form of punishment, the above 12 organizations and individuals were subject to the form of suspension of securities transactions on 12 securities accounts opened at Tri Viet Securities Joint Stock Company and 2 accounts opened at APG Securities Joint Stock Company that participated in stock manipulation transactions, the suspension period is within 09 months from January 19, 2024.

Based on the investigation conclusion of the police agency, the State Securities Commission said that the 12 organizations and individuals mentioned above did not have any illegal income from the violations.

At the same time, to apply preventive measures to prevent violations of the law on securities and the securities market, the State Securities Commission also issued a decision to ban securities transactions for a period of 02 years for these 12 organizations and individuals; Banning them 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.

Previously, on April 20, 2022, the Investigation Agency issued a decision to prosecute and temporarily detain Mr. Do Thanh Nhan, former Chairman of Louis Holdings, to investigate the crime of stock market manipulation. Mr. Nhan was later sentenced to 4 years in prison.

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