A case of market manipulation by a pan-party, a matching company and a “stock market spokesman” to trick investors into buying at high prices to take over the market has been exposed. The case involved nearly 400 million yuan (RMB, the same below) of funds and more than 80 securities accounts.
The case involved nearly 400 million yuan of funds and more than 80 securities accounts with 4 times leverage, and the manipulator took advantage of the capital advantage and shareholding advantage to continuously concentrate on trading “Jiamei Packaging “The company’s stock market has been in a state of flux for more than a decade, and the company has been able to attract investors to buy the stock at a high price.
Specifically, from August 3, 2020 to September 8, 2020 is the stage of building a position to pull up, the number of shares held by the account group increased rapidly from 0 shares at the beginning of the period to 38.83 million shares, accounting for 40.76% of the shares in circulation at the time, “Jiamei packaging” share price rose by 42.06%.
September 9, 2020 shipping stage, Zheng colluded with the “stock market black mouth”, by the “black mouth” in the live room to encourage retail investors to buy. On that day, the manipulator took the opportunity to control the account group to sell a large number of concentrated “Jiamei packaging” 38.83 million shares, with a turnover of 485 million yuan, accounting for 58.82% of the market turnover of the stock that day. This move led to the “Jiamei packaging” share price that day staged “sky floor”, after the opening of the stock price quickly pulled up once touched the stop, and then the stock price continued to fall, and finally closed with a stop.
Since then, the stock has fallen for three consecutive days, from the September 9 share price peak fell by 58.75%, investors suffered huge losses.
The stock market “kill the pig plate” is different from the previous market manipulation cases, this case by the manipulation side, matching party and black mouth tripartite participation, the parties have a clear division of labor, common share of the spoils. Zheng, as the manipulator, is responsible for stock selection and giving operation instructions. The matching company raises funds from the market for the manipulator’s use, with a leverage of 4 times. The manipulator generally pays interest at 1.1% per month, and the matching company pays interest to the fund provider at a rate lower than that, earning a spread. The company also provides securities accounts and trading software to the trader and receives commissions based on the transaction amount. The “stock market black mouth” is responsible for the shipment of goods, and receives remuneration at 10% of the transaction amount. In this case, the amount of the shipment transaction was nearly 500 million yuan, from which the black mouth could draw about 50 million yuan.
On September 25, 2020, 14 key members of the company were arrested, and on October 15, the manipulation of the “Jiamei packaging” stock manipulation party Zheng Mou and other two main criminals were arrested.
It is reported that the case arrested a total of 23 people, these people are suspected of market manipulation, illegal operation and other illegal crimes.
Because of the recent exposure of the mainland private equity fund manager Ye Fei to the mainland stock market shady, the mainland stock market has continued to be concerned about the outside world.
The famous mainland economist Wu Jinglian said years ago that the mainland stock market is a casino, and a casino where the dealer can see each other’s cards.
Financial commentator Wang Jian also said that retail investors in the mainland stock market, you do not know what is sitting behind the stock, so the retail investors are just cut leeks. Wang Jian advised investors not to touch mainland stocks as well as financial products, or lose money without knowing how to pay.
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