Wednesday 13 November 2013 A 58-year old Queensland man has been...

Wednesday 13 November 2013


A 58-year old Queensland man has been sentenced to 2 years imprisonment for market manipulation.

Mr Thai Quoc Tang admitted to creating a false or misleading appearance in the market when trading in the shares of biological technology company Tissue Therapies Limited (TIS) over 13 months from December 2010 (refer: 13-119MR).

Mr Tang, who pleaded guilty to two rolled up market manipulation charges, conducted his trades through 11 separate online accounts.

Appearing on Tuesday 12 November 2013 in the Brisbane District Court before his Honour Judge Michael Shanahan, Mr Tang was convicted and sentenced for 2 years for each offence, to be served concurrently, starting on Tuesday 12 November 2013. His Honour directed that Mr Tang be released after 4 months upon entering a recognizance in the sum of $5,000 and conditioned that he be of good behaviour for a period of further 3 years.

‘ASIC is committed to pursuing conduct which impacts on market integrity,’ ASIC Commissioner Cathie Armour said.

‘This sentence recognises the seriousness of Mr Tang’s conduct and will serve to deter others from engaging in similar behaviour.’

In sentencing Mr Tang, Judge Shanahan acknowledged the seriousness of the offences and the significant impact on the market of this sort of market manipulation.

The matter was prosecuted by the Commonwealth Director of Public Prosecutions.

Only 11 accounts . Wish I knew more about teh bloke as he is unlikely to have learnt to do that and act alone and wonder what other stocks he played with and if he was active on forums?

No civil suit and no decent fine so holders who were scammed got nothing - good ol' toothless tiger . If they dud a little deeper I wonder if it was part of a boiler room style or if he had some link to someone at TIS so he knew his risk. Very odd company to try and manipulate back then.

Wonder how many HC accounts he has?

Who do you reckon it was?