According to information from the State Securities Commission, this unit has just issued a decision to impose an administrative penalty on Mr. Nguyen Viet Ha, address 68 Linh Lang Street, Ba Dinh District, Hanoi. This decision is based on the results of the State Securities Commission's inspection on December 21, 2023.
Accordingly, from August 2, 2021 to January 28, 2022, Mr. Nguyen Viet Ha used 23 accounts to continuously buy, sell, and trade shares of Khang Minh Group Joint Stock Company (stock code: GKM) to create artificial supply and demand, manipulating GKM stock prices. This is considered an act of stock market manipulation.
Former leader of Khang Minh Group was fined 1.5 billion VND. (Photo: DT)
For these violations, the State Securities Commission decided to fine Mr. Nguyen Viet Ha VND 1.5 billion, according to the provisions of Clause 3, Article 5, Clause 1, Article 36 of Decree No. 156/2020/ND-CP amended and supplemented in Clause 4 and Clause 30, Article 1 of Decree 128/2021/ND-CP dated December 30, 2021 of the Government, regulating administrative sanctions in the field of securities and the securities market.
Along with the administrative penalty, the State Securities Commission also decided to ban Mr. Nguyen Viet Ha from trading securities for a period of 2 years, starting from October 9, 2023.
At the same time, Mr. Ha is 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 02 years, starting from October 9, 2023.
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