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Quartet face criminal charges for ASX penny stock Telegram pump-and-dump scheme
Australia financial regulator ASIC has announced that following an ASIC investigation, four people have been criminally charged for their alleged involvement in a coordinated scheme to pump up shares in Australian stock values before dumping them at inflated prices. Syed Yusuf, Larissa Quinlan, Emma Summer, and Kurt Stuart were charged in the Downing Centre Local Court with conspiracy to commit market rigging and false trading, to artificially increase the price of Australian shares before dumping them. They face a maximum penalty of 15 years imprisonment and a fine of over $1 million for market manipulation. ASIC ... (full story)
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- Posted: Jul 23, 2024 7:02pm
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