A Chinese individual investor manipulated the securities market 18 times within a year and was heavily fined 175 million RMB (about 104.6 million Malaysian Ringgit).
According to a compilation of reports from The Paper and Securities Times, the official website of the Shandong Securities Regulatory Bureau on Friday (July 24) disclosed an administrative penalty decision, revealing that between March 2024 and March 2025, an individual named Fang Moujun controlled and used multiple securities accounts to manipulate the trading prices and volumes of several stocks through continuous trading and hitting the daily price limit.
Investigation statistics showed that Fang Moujun committed 18 illegal acts in total. Of these, six instances each yielded illegal gains exceeding 1 million RMB, with the total illegal gains amounting to approximately 81,587,600 RMB; in the remaining 12 instances, there was no illegal gain.
The Shandong Securities Regulatory Bureau stated that the above illegal facts are supported by evidence such as interrogation transcripts, securities account information, trading records, and bank transaction records. Fang Moujun’s actions violated China’s Securities Law regarding market manipulation.
According to the penalty decision, for the six violations with illegal gains, the regulatory authority confiscated the 81,587,600 RMB of illegal proceeds and imposed an equivalent fine; for the 12 instances without illegal gains, a fine of 12 million RMB was imposed. In total, Fang Moujun was fined and had assets confiscated to the amount of 175 million RMB. Fang Moujun did not submit any statements or defense opinions, nor did he request a hearing.
Since the beginning of this year, the China Securities Regulatory Commission (CSRC) has issued several hefty fines for cases of market manipulation.
Earlier this month, the CSRC issued a fine of 627 million RMB to Zhao Yang, Quan Shoushan, and two others. In 2020, the four controlled multiple accounts belonging to others, used their capital and holding advantages to conduct continuous buying and self-trading, and earned a total profit of about 157 million RMB. Authorities ultimately decided to confiscate their illegal gains and impose a fine triple the amount.
In January of this year, another individual, Yu Han, was fined and had 1.022 billion RMB confiscated by the CSRC for manipulating the stock price of "Dr. Glasses" and profiting 511 million RMB. At the same time, Yu Han was subjected to a three-year ban from the securities market.
On July 23, the China Securities Regulatory Commission held a regulatory work symposium and, when arranging work for the second half of the year, made it clear that they would strictly uphold the principles of openness, fairness, and impartiality in the market, and severely crack down on illegal activities such as financial fraud, insider trading, and market manipulation.
Investigation statistics showed that Fang Moujun committed 18 illegal acts in total. Of these, six instances each yielded illegal gains exceeding 1 million RMB, with the total illegal gains amounting to approximately 81,587,600 RMB; in the remaining 12 instances, there was no illegal gain.
The Shandong Securities Regulatory Bureau stated that the above illegal facts are supported by evidence such as interrogation transcripts, securities account information, trading records, and bank transaction records. Fang Moujun’s actions violated China’s Securities Law regarding market manipulation.
According to the penalty decision, for the six violations with illegal gains, the regulatory authority confiscated the 81,587,600 RMB of illegal proceeds and imposed an equivalent fine; for the 12 instances without illegal gains, a fine of 12 million RMB was imposed. In total, Fang Moujun was fined and had assets confiscated to the amount of 175 million RMB. Fang Moujun did not submit any statements or defense opinions, nor did he request a hearing.
Since the beginning of this year, the China Securities Regulatory Commission (CSRC) has issued several hefty fines for cases of market manipulation.
Earlier this month, the CSRC issued a fine of 627 million RMB to Zhao Yang, Quan Shoushan, and two others. In 2020, the four controlled multiple accounts belonging to others, used their capital and holding advantages to conduct continuous buying and self-trading, and earned a total profit of about 157 million RMB. Authorities ultimately decided to confiscate their illegal gains and impose a fine triple the amount.
In January of this year, another individual, Yu Han, was fined and had 1.022 billion RMB confiscated by the CSRC for manipulating the stock price of "Dr. Glasses" and profiting 511 million RMB. At the same time, Yu Han was subjected to a three-year ban from the securities market.
On July 23, the China Securities Regulatory Commission held a regulatory work symposium and, when arranging work for the second half of the year, made it clear that they would strictly uphold the principles of openness, fairness, and impartiality in the market, and severely crack down on illegal activities such as financial fraud, insider trading, and market manipulation.