Two medical students convicted of large-scale and systematic kursfiffel on the stock exchange. They lose the profit on the 2.5 million – but to avoid prison, according to the district court. Everything, however, suggests that Sweden’s unique goal to be taken further to the court of appeal.
Stockholm district court. Arkivbild.
the maximum penalty is four years in prison. The prosecutor insisted on a year. But despite the fact that they are considered guilty of a long series of cases of gross market manipulation satisfied the Stockholm district court to judge the two läkarstudenterna, 23 and 24 years, to probation and a fine.
“It is gratifying that the court has passed on our line and clear that this type of procedure is not legal,” says Jan Tibbling, deputy chief prosecutor at the Ekobrottsmyndighetens (EBM) finansmarknadskammare.
Then was the sentence low. I have not put myself fully into how they have been arguing, but we get to look at it.
It is the first time that people who write in aktieforum online been prosecuted for this type of offence and the EBM considers the case as a test case. The prosecutor has previously signaled that the case will be taken on to the court of appeal regardless of the outcome of the district court, but now says it is completely safe to EBM to appeal.
” We may look at how they have resonated and see if we will complain. But we have an interest to get a precedent, absolutely.
The two men has, according to the district court, wrote the anonymous and overall a very positive post about companies listed on the various smaller venues, and then sold when the stock prices been driven up. In one case, the price with a total of 54 per cent. They have also provided misleading information about themselves.
“Crime has a high straffvärde, but with regard to the significant amount forfeited has the sentence been sentenced to probation and 200 daily fine”, writes the district court in a press release.
the Students are judged against his denial. 24-see her bold fashion lawyer Sven-Eric Ohlsson is critical to the district court bought the prosecutor’s allegations “directly”.
– The ray of hope you can possibly see, it is in the sentence.
He would not yet say whether he will appeal.
” We’ll take ten deep breaths now and analyze the judgment.
the Facts: Used multiple aliases
Läkarstudenterna have had access to lots of different accounts on aktieforum as redeye.see, place.now and DI’s Börssnack. In the profiles they have, inter alia, called themselves scientists, doctors and analysts.
the Men are sentenced for illegal dealings in 14 different companies, mainly active in the pharmaceutical industry and related sectors, listed on Aktietorget, First North and NGM. The illegal trade was going on during the period August 2014–april 2015.
They were convicted for twelve cases of gross market manipulation. In the other two cases it is about ordinary drug offences, according to the district court.
Source: the Stockholm district court
the Facts: Can provide four years of imprisonment
Market manipulation, often abbreviated as OTM, is one of the two most common types of finansmarknadsbrott. The other is insider dealing, trading in securities on the basis of secret so-called inside information.
A common form of OTM is the manipulation of the courses on securities, for example, by skenaffärer between the various depots. But even that misleads buyers and sellers of financial instruments can be sentenced for this crime.
Both insider dealing and the OTM may, if the offence is considered gross, lead to a prison sentence of up to four years.
Source: serious fraud office
No comments:
Post a Comment