seller, page-20

ASIC do investigate this kind of stuff. Take a look at this article:

http://www.asic.gov.au/asic/asic.nsf/byheadline/12-98MR+Brisbane+man+charged+with+market+manipulation?openDocument

It happened on Icon Energy, a small speculative stock and the bloke was facing a jail sentence earlier this year.

"ASIC alleges Mr Baldwin arranged for orders to be placed on the ASX for the sale of ICN shares between 19 and 24 November 2008. These orders, according to ASIC, were likely to have the effect of creating an artificial price for trading in the company’s shares."


Hard for them to prove except there is an electronic audit trail of all orders placed, which is recorded forever and can't be hidden.