Red Star Capital Bureau reported on December 21 that recently, the Qingdao Intermediate People's Court (hereinafter referred to as the "Qingdao Intermediate Court") released four typical cases of criminal trials in the official world, one of which is "Internet big V colludes with others to speculate and manipulate stock prices - Ye's market manipulation case".
According to the Financial Associated Press, Ye in this case is Ye Fei.
In May 2021, Ye Fei, known as the "private equity champion", broke the news that a number of listed companies carried out market value management in violation of regulations, and the first party defaulted on the debts and did not pay the next family as agreed. (For details, see the previous special report "Focus on Private Equity Champion Ye Fei Reports the Shady Scene").
According to the Qingdao Intermediate People's Court, Ye knew that Liu and others were manipulating a listed company, and after collusion, it was decided that Liu would provide funds, and Ye would organize and personnel to investigate the listed company, publish a research report, and then contact Ye to hype the company's development of advantageous industries and other concepts, trick investors into buying the company, and help Liu and others make a profit of more than 2,900 yuan. Ye's behavior constituted the crime of market manipulation. In view of Ye's accomplice and confession, the Qingdao Intermediate People's Court sentenced him to three years in prison and a fine of 500,000 yuan for the crime of manipulating the market.
The Qingdao Intermediate People's Court said that the case is a frequent case of "black mouth" market manipulation. In order to obtain illegal benefits, the persons involved in the case used their influence to hype up concepts, market hotspots, etc., through a variety of communication platforms, directly or indirectly recommending**, and then committing the crime of manipulating the market. This kind of crime deviates from the principle of free competition and supply and demand in the market, and is extremely harmful.
Red Star News reporter Yang Peiwen.
Edited by Yang Cheng.
*Red Star News, Prizes for Reporting!）