Two individuals used 164 securities accounts to manipulate PDR stock prices

Between August 15, 2022 and December 9, 2022, 2 individuals used 164 accounts to continuously buy, sell and trade PDR shares.

Between August 15, 2022 and December 9, 2022, 2 individuals used 164 accounts to continuously buy, sell and trade PDR shares.

The State Securities Commission has just issued a decision to impose administrative sanctions and apply preventive measures to prevent violations of the law on securities and the securities market for acts of stock market manipulation and acts of lending accounts for securities trading leading to stock market manipulation for PDR shares of Phat Dat Real Estate Development Corporation.

Specifically, two individuals, Ms. Nguyen Thi Phuong Thao (Permanent address: 3.1, 3rd floor, Sao Mai Building, 153-161 Luong Nhu Hoc, Ward 11, District 5, Ho Chi Minh City) and Mr. Phan Thanh Tam (Permanent address: 1/13 Calmette, Nguyen Thai Binh Ward, District 1, Ho Chi Minh City ) were each fined 1.5 billion VND for violating the law on stock market manipulation.

During the period from August 15, 2022 to December 9, 2022, Ms. Nguyen Thi Phuong Thao and Mr. Phan Thanh Tam used 164 accounts to continuously buy, sell, and trade PDR shares between accounts with the aim of creating artificial supply and demand, manipulating PDR stock prices, violating the provisions of Clause 3, Article 12 of the Securities Law.

The results of the inspection and calculation of the illegal income obtained from the violations of Ms. Nguyen Thi Phuong Thao and Mr. Phan Thanh Tam showed that there was no illegal income.

In addition to being administratively sanctioned, Ms. Nguyen Thi Phuong Thao and Mr. Phan Thanh Tam are also banned from trading securities for a period of 02 years, starting from March 24, 2025 and 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 March 24, 2025.

Regarding the act of lending accounts to others to trade securities, leading to the act of manipulating the stock market, 22 individuals who lent accounts to Mr. Phan Thanh Tam were also administratively sanctioned by the State Securities Commission.

The inspection results do not have a basis to determine whether 22 individuals have illegally obtained profits from committing violations.

These 22 individuals are banned from securities trading for a period of 2 years, starting from March 24, 2025, and are 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 2 years, starting from March 24, 2025.

Source: https://baodautu.vn/hai-ca-nhan-dung-164-tai-khoan-chung-khoan-de-thao-tung-gia-co-phieu-pdr-d257538.html