Three Convicted for Manipulating Stock
Photo: Johan Nilsson/TT

Three Convicted for Manipulating Stock Prices on Platform X

Three people are convicted of serious market manipulation, as well as aiding and abetting the same crime, after having driven up stock prices on the platform X and then quickly dumped them.

The crime scheme – which is called "pump and dump" – is based on the spread of false or misleading information about a share to drive up the price and then, contrary to their own recommendations, sell their holdings at a large profit, according to the Economic Crime Authority.

The Court of Appeal imposes forfeitures totaling over one million kronor and the individuals are sentenced to conditional sentence, day fines and community service.

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AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
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