According to the indictment by the Economic Crimes Authority (EBM), the share transaction under investigation was carried out in March 2024. The terms were agreed in advance between the men, but the million-dollar transaction was carried out during continuous trading. Therefore, it is to be considered market manipulation, according to EBM.
The chairman of the board and the former CEO are charged with market manipulation, while the broker is suspected of aiding and abetting the same crime.
According to the indictment, the market received a misleading picture of the share's price, turnover and demand.
The terms should not be agreed upon beforehand; rather, the market should determine the price and volume, Chamber Prosecutor Jan Leopoldson told Dagens Industri .
