Investor fined 1.5 billion VND for BCE stock manipulation

The State Securities Commission of Vietnam has issued an administrative fine of 1.5 billion VND against Le Viet Cuong, a resident of Ho Chi Minh City, for manipulating the stock price of Binh Duong Construction and Transport Joint Stock Company (BCE).

Between October 16, 2024, and March 4, 2025, Cuong utilized eight different securities accounts to influence the supply, demand, and trading price of BCE shares to create artificial market movements. These accounts included four held in his own name, three borrowed from other investors, and one held by another individual at his request. While the investigation found no illegal profits gained from these actions, Cuong is prohibited from securities trading and from holding positions at securities companies or fund management firms in Vietnam for two years, effective November 10.

Additionally, the commission penalized four individuals who allowed their accounts to be borrowed, resulting in a nine-month suspension of their securities trading activities. These individuals are also barred from holding management roles at securities and fund management firms for two years.