The Investigation Police Agency of Long Bien District Police has decided to prosecute the case, prosecute the accused and temporarily detain Nguyen Khanh Toan (born in 1979) for the act of "manipulating the stock market".
Accordingly, Toan led an organization to buy and transfer listed businesses with poor business results and low-value stocks.
An individual was prosecuted for manipulating KDM stock prices, illegally profiting nearly 10 billion VND (Photo TL)
Toan's group then published false information about the company's financial statements and operations to attract investors' attention. The group also raised the stock price by buying and selling between accounts within the group and finally selling the shares to the market.
From March to December 2021, Toan directed employees to use 20 accounts under the names of many different people to continuously buy and sell KDM shares of New Urban Development Corporation (now renamed GCL Group Corporation) to create fake supply and demand.
Through criminal acts, it is estimated that Toan's group illegally profited 9.8 billion VND.
Source: https://www.congluan.vn/thao-tung-gia-co-phieu-kdm-thu-loi-bat-chinh-10-ty-dong-mot-ca-nhan-bi-khoi-to-post300331.html
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