The State Securities Commission has just announced administrative sanctions against four individuals, including Mr. Mai Huu Phuc, Ms. Vo Nhu Thao, Ms. Do Thuy Tien and Mr. Tran Minh Hoang, for manipulating the stock market for PSH shares of Nam Song Hau Petroleum Investment and Trading Joint Stock Company.
Accordingly, each individual was fined 1.5 billion VND. The total fine is 6 billion VND.
Regarding the act of manipulating the stock market for PSH shares, the State Securities Commission said that 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 under the names of 15 investors to continuously buy and sell PSH shares.
This group of 26 accounts participated in 135/140 trading sessions during the period from February 1, 2021 to August 25, 2021; placed 12,860 buy orders with a total volume of 91.5 million shares, accounting for 64.5% of the total market, the matched buy volume was 66.95 million shares, accounting for 67.2% of the total market; placed 7,587 sell orders with a total volume of 109.7 million shares, accounting for 60.4% of the total market, the matched sell volume was 74,760,900 shares, accounting for 75.1% of the total market.
PSH stock performance from the beginning of 2021 to present Source: Fireant
Of which, 97/134 sessions had a buy order ratio of over 70%, 98/134 sessions had a buy matched ratio of over 70%; 87/135 sessions had a sell order ratio of over 70%, 108/133 sessions had a sell matched ratio of over 70%.
The above group of accounts participated in 81/186 trading sessions during the period from August 26, 2021 to May 27, 2022. These accounts tended to sell with a net selling volume of 15.26 million shares; placed 1,584 buy orders with a total volume of 14.62 million shares, accounting for 3.1% of the total market, the matched buy volume was 9.5 million shares, accounting for 3.9% of the total market; placed 1,090 sell orders with a total volume of 37,162,200 shares, accounting for 7.5% of the total market, the matched sell volume was 24,837,400 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 55.27 million shares, the corresponding matching value reached VND 1,310 billion. 102/157 sessions had a cross-matching ratio of over 50%.
On the negotiated trading system, a group of 26 accounts conducted intra-group negotiated transactions with a volume of 5.6 million PSH shares, with a total intra-group matching value of 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 the aim of creating fake supply and demand, manipulating PSH stock prices.
The results of the inspection and calculation of the illegal income obtained from the violations of Mr. Mai Huu Phuc, Ms. Vo Nhu Thao, Ms. Do Thuy Tien and Mr. Tran Minh Hoang showed that there was no illegal income.
In addition to imposing an administrative fine of VND1.5 billion, the State Securities Commission also said that the above individuals will also be subject to additional penalties.
Specifically, Mr. Mai Huu Phuc, Ms. Vo Nhu Thao and Ms. Do Thuy Tien are banned from securities trading for a period of 2 years 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 2 years from May 27.
Mr. Tran Minh Hoang was banned from trading securities for a period of 3 years 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 3 years, also starting from May 27.
In the market, PSH shares are under warning and are currently priced at VND 7,700/share. Compared to the beginning of 2024, PSH shares have decreased by more than 25%.
Source: https://nld.com.vn/thao-tung-gia-co-phieu-4-nguoi-bi-phat-den-6-ti-dong-19624052922274773.htm
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