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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.

By Team

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