The State Securities Commission has just announced its decision to administratively fine Mr. Giang Tuan Anh VND 575 million for manipulating the price of DST shares of Sao Thang Long Investment Joint Stock Company.
Specifically, based on the inspection results and verification results of the authorities, it shows that: in the period from February 24, 2020 to October 1, 2020, Mr. Giang Tuan Anh used 1 of his securities accounts and 22 other investors' securities accounts to trade DST shares with the purpose of creating liquidity and artificial supply and demand, manipulating stock prices.
An individual was fined nearly 600 million VND for manipulating stock prices.
Verification results by the authorities show that there was no illegal profit gained from Mr. Giang Tuan Anh's manipulation of DST stock prices.
DST shares are being traded on the Hanoi Stock Exchange and at the end of the session on April 17, the price was 3,500 VND, slightly down from the beginning of the year. During 2020, Mr. Giang Tuan Anh used a series of accounts to make the price of DST shares skyrocket from 1,000 VND to nearly 9,000 VND and then dropped back down to below 3,000 VND at the end of 2020. After that, the "wave" in DST shares once again took place at the end of 2021, pushing the price of this code to jump to 14,000 VND with exceptionally high liquidity.
At the end of 2023, the company achieved revenue of nearly 54 billion VND, an increase of more than 10% compared to 2022. However, after-tax profit plummeted to 1.54 billion VND compared to a profit of nearly 32 billion VND in 2022. By the end of 2023, the company had only 9 employees. Last year, only the company's General Director, Mr. Bui Viet Dung, received a salary of more than 403 million VND, while the other members of the Board of Directors and the Supervisory Board did not receive any salary...
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