some reading entertainment for the hedge...

some reading entertainment for the hedge funds

https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-116mr-**riel-govinda-sentenced-to-two-and-a-half-years-imprisonment-and-fined-for-market-manipulation-and-finfluencer-conduct/

Published 3 May 2023

**riel Govinda (known online as ‘Fibonarchery’) has been sentenced to two and a half years imprisonment to be released immediately on a 5 year recognisance in the amount of $5,000 and fined $42,840 after pleading guilty to 23 charges of manipulation of shares listed on the Australian Securities Exchange and 19 charges of illegal dissemination of information relating to the manipulation.The Court considered Mr Govinda’s posts on HotCopper about his market manipulation activity to be a breach of s1041D of the Corporations Act. This is the first time a person has been sentenced under this provision.ASIC Deputy Chair Sarah Court said ‘Mr Govinda used a social media forum as an integral part of his market manipulation. He promoted certain shares that he had an undisclosed interest in, and which he had manipulated, with a view to selling out at a higher price.