Australian Securities and Investment Commission Secures Conviction of Market Manipulator

Market manipulators monkey with the market price of the shares, pumping the price up through misinformation, then selling out once innocent purchasers snap up the apparently rising shares.

Securities fraud is as widespread as human nature. It happens down under as often as it does in the States, in Europe as often as Canada, in South America as often as Asia. Worldwide, regulators and prosecutors are chasing down those who violate the laws designed to protect investors. The Australian Securities and Investments Commission (“ASIC“) has succeeded in running to ground one such violator. (more…)