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Melbourne man charged with market manipulation

By Reporter
 — 1 minute read

A Melbourne man has faced court charged with 23 counts of market manipulation and 19 charges of illegal dissemination of information.

In a statement ASIC said the charges against Gabriel Govinda, who appeared in the Melbourne Magistrates’ Court on 2 July, relate to trading in 20 different securities quoted on the ASX between September 2014 and July 2015.

Mr Govinda is alleged to have contravened section 1041B of the Corporations Act 2001, which relates to the false or misleading appearance of active trading in, or with respect to the market or price for, securities; and section 1041D of the act around dissemination of information about illegal transactions.

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Mr Govinda faces a maximum penalty for each charge of 10 years’ imprisonment or a fine of up to $765,000, or both.

The matter is being prosecuted by the Commonwealth Director of Public Prosecutions after a referral from ASIC, and is next in court on 3 September 2021 for committal mention.

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Melbourne man charged with market manipulation
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