Singer Khanh Phuong was fined 245 million VND for 'secretly buying' stocks.

Specifically, Mr. Pham Khanh Phuong (singer Khanh Phuong) was fined 150 million VND for not registering a public offering according to the law.

During the period from June 23, 2022 to October 28, 2022, Mr. Phuong bought more than 3 million shares of Song Da 1.01 Joint Stock Company (SJC), increasing his holding ratio from 0% to 45.5%.

On December 23, 2022, Mr. Phuong made a transaction to buy 100,000 SJC shares and sell 21,800 SJC shares, increasing his holding ratio to nearly 1.8 million SJC shares (equivalent to 25.81%) but did not register for a public offering.

*Singer Khanh Phuong was fined 245 million VND for illegally selling stocks. (Photo: VNN)*

Regarding this remedial measure, the State Securities Commission requires Mr. Phuong to give up his right to vote directly or through an authorized representative on the shares obtained from the violation and to sell shares to reduce the holding ratio below the level required for a public offering for the violation within a maximum period of 6 months from the effective date of the decision to apply this measure (June 26).

In addition, Mr. Phuong was also fined VND60 million by the State Securities Commission for failing to report when he owned 5% or more of the voting shares of a public company.

According to the management agency, on October 14, 2022, Mr. Phuong bought 96,600 SJC shares, resulting in an increase in the volume (ratio) of ownership from 289,200 shares (4.17%) to 385,800 shares (5.56%), becoming a major shareholder of Song Da 1.01 but did not report to the Hanoi Stock Exchange (HNX).

Not only that, Mr. Phuong was also fined 35 million VND for not reporting any changes in the percentage of shares owned beyond the threshold of 1% of the number of voting shares.

The State Securities Commission said that from October 21, 2022 to December 30, 2022, Mr. Phuong continuously bought and sold SJC shares, changing the share ownership ratio of Mr. Phuong and related people.

Specifically, increased from 5.56% to 8.42%; increased from 47.66% to 48.62%; decreased from 48.13% to 24.53%; decreased from 48.06% to 47.83%; increased from 47.83% to 48.26%; increased from 25.81% to 26.04%. Mr. Phuong did not report or did not report on time to HNX when there was a change in the ownership ratio of SJC shares.

For the above violations, Mr. Pham Khanh Phuong was administratively fined a total of 245 million VND.

Singer Khanh Phuong was once famous for the song "Warm Wind Scarf" loved by young people.

Singer Khanh Phuong made tens of billions of dong in profit from investing in shares of a loss-making company. With the investment in Song Da (SJC) shares, singer Khanh Phuong made a profit of more than 12 billion dong after the stock price increased sharply. This company reported a loss in 2022.

Source