Clearly Bot Trading is often used to manipulate the market,
When it is possible to wipe Millions of a Companies Value for $1000 or so,
Clearly the Companies core value has not really dropped at all.
Unfortunately Banks, Brokers, Instos, Etc use these Tactics Constantly.
When was the last time any Banks, Insto, or Fund was penalised by ASIC?
It is clear price Manipulation,
It is not providing an orderly Market.
An example is the IGE story.
It folded after many years of different company names,
That then failed yet the same directors were allowed to raise money again,
Folding and losing investors money time and time again.
The Administrator found various wrongdoings and reported them to ASIC,
ASIC as usual, did nothing.
Well here it is:
Report on liquidation of IGE by KPMG
Not a happy story.Some highlights:
ASIC did nothing even though the Liquidator showed and proved various acts of wrongdoing,
"Investors" lost every cent.
ASIC and the ASX did nothing,
Even though IGE had lied for many years if not decades about access to funding that did not exist.
Then they transferred the IP into a company owned by one of the Directors,
Even though none of the Milestones to do so were ever met.
One of the directors sold $400 000 of shares just before it folded,
And still no-one is held accountable.
The worst thing is they had done this many times before,
E is not the first venture that Stuart Clarke and Paul Dickson have been involved with.
Dickson & Dickson Healthcare Pty Limited is a company which Paul Gregory Dickson, Stuart Clark and Fandola Investments Pty Limited were all involved with. This company went into administration in 2016 with Ferrier Hodgson forming the view that insolvency existed within the group of companies. Litigation was raised against the former directors.
“On or around May 2016, the board of directors became concerned that certain accounting entries may have been misstated in the accounts prepared for FY14, FY15 and FY16. An investigation was undertaken into a wide range of issues potentially impacting the accounts”
The before and after figures from the report.
A link to the report can be found here. It’s well worth a read and there appear to be many similarities to what’s going on today.
https://financedocbox.com/83254300-...erly-claveguard-pty-ltd-dp-logistics-pty.html
But were still allowed to be Directors again after this,
Only for a similar thing to happen once again.
Before being called IGE they were known as FOY,
Listed on the ASX in 1989.
The entire time the claimed access to funding did not exist,
And collected wages since 1989 thats 3 decades.
Even then they had even more names before that.
So after collecting wages for 3 decades ASX and ASIC still do not penalise them in any way,
And chase them for their assets.
Also ASIC let them continue to be directors of more companies that also failed,
Costing shareholders $$$$.
ASX let false announcements be made for many many years,
And did NOTHING
ASIC even after the Liqidator KMPG showed various wrongdoings,
Breach of director duties,
And Unreasoionable Transactions,
To the tune of over $46 000 000 worth.
ASX and ASIC did NOTHING !!!!
This is not a one off,
It happens all the time on the ASX.
They are not doing their job,
And there are no penalties for companies making up whatever they want,
As an ASX Announcement.
Isn't that their Job?
To make sure the Announcements are genuine?
Or is it OK for comapanies on the ASX to just make up anything they want,
And the ASX is fine with that?
The dodgiest companies in the world list on the ASX,
As no other country in the world will let them.
ASX and ASIC,
Need to clean their act up,
Do their Job and look after Shareholders.
They need to chase and prosecute Dodgy Directors and Companies,
For doing the wrong thing.
They need to chase these dodgy directors for their assets,
(even if they put it in other peoples names),
And get the money back to Shareholders !!!!
The Dodgy Directors and Companies should also be charged for,
Fraud,
Acquring funds via deception,
And every possible thing they can be charged for,
To the fullest extent of the Law.
ASIC has not been doing it's job,
And seems happy for Aussie Investors to be ripped off time and time again
and do nothing about it.
in fact they often let the same people Do the same thing time and time again,
With no consequences what so ever !!!!
They are not providing an orderly market,
Or doing their job properly.
Not to mention are they happy for peoples Super to be Stolen in such a Way?
ASX and ASIC,
Do your Job !!!!
As for your media suggestions,
Perhaps other shows like the Project etc.
Would be interested.....
One things for sure the ASX has to cleaned up,
Especially when as Australians we are forced to have Shares through our Super.
If people knew how dodgy it was,
They would be Shocked !!!!
(20min delay)