A stock market dealer arrested for Stock prices manipulation on the Stockholm stock market
Wednesday, 01 May 2013
A man in the
Gothenburg region in western Sweden is suspected of having manipulated
the stock prices of, among others, shared traded on the Stockholm Stock
Exchange OMX from his computers.
According to
radio Sweden, Prosecutor Jan Leopoldson on Swedish Economic crime
authority told Swedish daily, Göteborgs-Posten that it involves the
manipulation of four different shares on several occasions.
Trading in the
shares looked to be larger than it actually was, leading to the share
price to increase even on the Nasdaq OMX bourse and the First North.
The suspected
manipulation should have occurred between December and February and was
discovered by the Stockholm Stock Exchange, which has an obligation to
report suspicious trading to the Swedish FSA.
The crime
however is the classification as market manipulation. The suspect is
associated to a smaller company engaged in securities trading.
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