
AK, you're right.
However, it is not easy to prove that someone is manipulating the prices.
In most cases of coy directors being charged for manipulation, It was never clear how the price of their shares were manipulated.
Is it possible to read up on past cases?
AK_Francis ( Date: 25-Sep-2008 16:19) Posted:
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Manipulation of stock prices is a commercial offence, be it insider or outsider nature. Can be individual, including layman, or group of coy directors. Few cases happened in local alrdy, n the involved were punished accordingly in court.
Offender is liable to be charged in court, fine n jail term apply, depending the seriousness of the conviction. The law laid down decades ago.
Lately, the authority reiterated the seriousness of the offence owing to Lehman's saga and other foreign banking firms issues. As propaganda may cause panic in public.
Hi... just curious what made you post this?
Anything mentioned in the local papers? I'm overseas now so a little out of touch.
Who are share price manipulators?. Are they a single individual or group of people?
When we say share price manipulation, do we mean making the prices up and up, or do we mean pressing the prices down and down? Honestly, I am not sure, but I know manipulation in the stock market is against the stock exchange rulings and more important against the statutory laws of the country.
If proven (through transaction records in the CDP), a person or persons could be penalized by the stock exchange, and if referred to the police, the offenders could be hauled to court and on conviction be fined or jailed or both.
Manipulation of stock prices is also a corrupt practice and could even be reported to the Commercial Affairs Dept.
People are advised against doing it because in today's market, they are alot of unhappiness around owing to the constant drop in share prices. You would be caught as soon as the law catches up with you. Is it worth the while? Think carefully. Think of your family and your children. Do an honest living and you won't die.
Cheers