‘Collusion and coordination’ as Oceania Natural execs pinged for market manipulation

Another hearing will determine the penalties. (Image: Getty)

Thu, 13 Apr 2023

Former NXT-listed Oceania Natural’s chief executive and his wife – also a senior manager – breached financial markets conduct law as their “collusion and coordination” in trading shares was deemed to be market manipulation. The Financial Markets Authority accused the pair of breaching the Financial Markets Conduct Act in 2019, laying civil proceedings against former Oceania Natural (ONL) chief Wei Zhong and sales and marketing manager Lei Ding over share trading between April 2016 and April 2017. Justice...

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