A MAN in Luohu District has been fined 896 million yuan (US$129 million) by the China Securities Regulatory Commission (CSRC) for manipulating share prices.

    The man, Tang Hanbo, received decisions from the commission Friday, informing him of the penalties for breaking the country’s securities laws.

    The first ticket states that Tang will have 41.88 million yuan of his illegal gains confiscated and be fined 208 million yuan. The second ticket states that Tang will have 199 million yuan of his illegal gains confiscated and be fined 597 million yuan. The third ticket states that Tang, along with another manipulator, will have 38 million yuan of their illegal gains confiscated and Tang would be fined 89 million yuan.

    The commission has ordered Tang to transfer the fines to a designated bank account within 15 days after he received the messages.

    Tang, 44, was accused of using hundreds of millions of yuan from December 2014 to February 2016 to manipulate share prices of a string of companies by resorting to various tricks. The companies include New Hope Group and Hithink RoyalFlush Information Network Co. Ltd.

    Regulators have recorded the details of Tang’s tricks and transactions, which are available on the official website of the CSRC at csrc.gov.cn.

    (SD News)